Finance
Omani fund replaces Russia's Alrosa in Angolan diamond miner Catoca
Published by Global Banking & Finance Review®
Posted on June 9, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 9, 2025
1 min readLast updated: January 23, 2026
Oman's sovereign fund takes over Alrosa's stake in Angola's Catoca, enhancing Angola's diamond market credibility.
(Reuters) - A subsidiary of Oman's sovereign wealth fund has replaced sanctions-hit Russian firm Alrosa as a shareholder in Angola's state-controlled diamond miner Catoca, according to the shareholder structure on Catoca's website.
Angola had been under pressure to cease its long-standing partnership with the Russian state-controlled Alrosa, the world's largest producer of rough diamonds by volume, since 2022 when the West imposed sanctions on Alrosa for Moscow's role in the conflict in Ukraine.
Catoca's shareholder structure showed that Endiama EP, Angola's national diamond company, owns 59% of Catoca, with Taadeen holding the remaining 41%, which used to be held by Alrosa.
The Oman Investment Authority did not immediately respond to a request for comment. Alrosa confirmed that it had exited the shareholding, but provided no further details.
Angola's Ministry of Mineral Resources, Oil and Gas, said the deal had been formalised on May 26.
In November, Angola said having sanctions-hit Alrosa as a shareholder in the Angolan diamond miner was affecting "Angola's credibility in the international diamond market".
(Reporting by Anastasia Lyrchikova and Alexander Marrow; editing by Barbara Lewis)
A subsidiary of Oman's sovereign wealth fund has replaced Alrosa as a shareholder in Angola's state-controlled diamond miner Catoca.
Angola faced pressure to end its partnership with Alrosa due to sanctions imposed by the West since 2022.
Endiama EP, Angola's national diamond company, owns 59% of Catoca, while Taadeen holds the remaining 41%.
The deal to formalize the new shareholding was completed on May 26.
Angola's Ministry of Mineral Resources stated that having Alrosa as a shareholder was affecting Angola's credibility in the international diamond market.
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