Alrosa and De Beers sign memorandum of understanding

An agreement was signed Wednesday between Alrosa and De Beers in Cape Town today, to examine opportunities for carrying out joint diamond prospecting and exploration activities in Russia and, in due course, other regions of the world, including Africa, the companies said in a joint-statement.

The agreement extends further a 50-year relationship between the two companies which has contributed significantly to the development of economic relations between Russia and South Africa, and to the growth of the diamond sectors of the two countries. 

In the statement, Alrosa and De Beers said they are aware of the recent decision by the European Commission regarding their trading agreement, and promised to operate in “strict compliance with all competition legislation requirements.”

“The companies are committed to working in a socially responsible and environmentally friendly manner to provide vital benefits to communities in remote and developing regions of the world, whose future prosperity may be dependent on diamond mining,” the statement read.

Alrosa and De Beers also said it will work within the guidelines of the Kimberley Process and the Diamond Best Practice Principles and with diamond industry organizations, including the World Diamond Council and the World Federation of Diamond Bourses.