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Alrosa forms new subsidiary in Zimbabwe

PJSC Alrosa opened a new subsidiary in Zimbabwe as the country's president, Emmerson Mnangagwa, paid an official visit to Moscow.

The company said Jan. 14 that Russian President Vladimir Putin is due to hold talks Jan. 15 with Mnangagwa covering relations between the two countries as well as international and regional matters.

Alrosa plans to develop new mining operations in the southern African nation with the support of the Zimbabwean government. Alrosa (Zimbabwe) Ltd. was established in early December 2018, and company experts including geologists and mining engineers are set to arrive in Zimbabwe in February.

The Russian Ministry of Natural Resources and Environment said in December 2018 that it was concerned by a decline in the growth of the country's diamond reserves. Natural Resources Minister Dmitry Kobylkin noted that Alrosa was only exploring mature areas and implied it would do well to shift focus.

Alrosa agreed in November 2018 to divest its 50% stake in the Sunland joint venture in Botswana, after former partner Botswana Diamonds PLC took over operatorship earlier in the year.

The miner recently reported a 6% increase in 2018 diamond sales to US$4.51 billion.