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ALROSA and MIBA Sign Memorandum of Understanding

The aim is to increase business, technological, scientific and technical cooperation.

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(PRESS RELEASE) ALROSA, the world’s largest diamond mining company by carat, and Bakwanga (MIBA), a leading diamond mining company in the Democratic Republic of the Congo (DRC), have signed a Memorandum of Understanding (MoU) to increase business, technological, scientific and technical cooperation.

The MoU was signed remotely by Vladimir Marchenko, Deputy General Director – Head of the African Division of ALROSA, and Polen Lukusa Mudiayi Kalondji, MIBA’s Managing Director. The signing took place in the presence of Alexi Kayemba de Bampende, Adviser to the President of the Democratic Republic of the Congo, and representatives from ALROSA. Both parties expressed their hope for continued and mutually beneficial cooperation.

The MoU defines areas of mutual interest and the potential for cooperation in the diamond mining industry. In particular, the document describes opportunities for the companies to work together to explore, mine and process diamonds in accordance with the global best practices for responsible business conduct, sustainable development and transparency. The parties also intend to exchange technologies and knowledge to ensure the sustainable development of the diamond mining industry.

Under the MoU, the companies will cooperate in line with international mechanisms of industry self-regulation and international standards for responsible diamond supply chain engineering. Representatives from ALROSA and MIBA have noted that the signing of the MoU will mark a new stage in the development of the diamond mining industry in the DRC.

Kacy Grine, Advisor to the DRC government in this partnership commented: “The strategic partnership between ALROSA and MIBA will create significant value for the Congolese mining industry, its economy and its people. This partnership will also strengthen the relationship between Russia and the DRC and pave the way for further cooperation between the two countries. The recent economic and social reforms envisioned by President Tshisekedi should provide enough reassurance for foreign investors to participate in DRC’s efforts to diversify and transform its economy”.

Vladimir Marchenko, Deputy CEO at ALROSA, said: “The diamond mining sector continues to play an important role for both Russia and the DRC. This means that it not only impacts their position on the global stage, but that it also helps money flows into the budgets and also creates jobs for the local communities, dozens of social projects as well as opportunities for local suppliers. We welcome the signing of the MoU with the DRC’s leading company and are pleased to officially seal our joint ambition to develop our joint initiatives. We express our willingness to share our practical experience as well as technical and professional resources with our colleagues at MIBA for a dynamic and efficient implementation of future projects in diamond mining.”

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