Advanced Search

Leviev Reportedly Sells Stake in Catoca Mine

May 18, 2011 11:18 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Lev Leviev has reportedly sold his stake in the Catoca mine in Angola. According to Kommersant, a Russian business publication, Leviev sold his 18 percent share in the mine to China Sonangol for approximately $400 million.

The deal is expected to be approved in June 2011, the report stated. Kommersant cited a letter sent by ALROSA president Fedor Andreev to Russia’s Finance Minister Alexei Kudrin informing him of the transaction. ALROSA owns 32.8 percent of Catoca with Angola's state company ENDIAMA holding 32.8 percent and Brazilian consortium Odebrecht owning 16.4 percent.

The mine generated revenues of $527 million in 2010 and profits of $111 million  with production at 7 million carats.

Tags: Angola, Avi Krawitz, Catoca mine, Leviev, Rough Diamonds
Similar Articles
Alrosa International Mine 150Alrosa Mine Restarts Following Virus Closure
Jun 30, 2020
Alrosa has resumed operations at its International underground mine following a brief suspension after several employees
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.