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RAPAPORT... ALROSA's executive committee approved the establishment of new joint ventures for exploring rough deposits in Africa. In one particular case, the committee ordered the preparation of an agreement with ENDIAMA by June to establish a joint venture to explore in Angola as well as prioritize prospecting areas based upon ALROSA's geological documentation. Earlier this month, ALROSA’s CEO, Fyodor Andreev, visited Angola to discuss potential projects with ENDIAMA. It is ALROSA's contention that Angola is primed for the discovery of a new major deposit based upon its geological research. The committee also approved the establishment of a prospecting draft document for a joint venture in Botswana aimed at discovering diamond deposits and obtaining exploration rights. This prospecting operations draft would be developed by the third quarter, according to the meeting minutes.
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