Luanda — The chairman of Russian diamonds company, Alrosa, Vladimir Kalatini said today in Luanda that his firm will kick-off from next March at Luo Mining Project, eastern Lunda-Norte province, the second phase of the exploitation of these gem stones.

Alrosa is already working in Catoca Project, eastern Lunda-Sul, for more than six years, where it has already exploited more than 2.693,000 carats, whose trading revenues worth USD 169,5 million and net profit estimated at USD 38 million.

"This is a very concrete co-operation in a partnership with the Angolan national diamonds company (Endiama)", Mr Vladimir told journalists after an audience granted to him by President Jose Eduardo dos Santos.

The Russian engineer stressed that this co-operation constituted the core of the meeting, adding that his firm intends to invest in the Southern African country in the areas of electrical energy, agriculture, among other fields.

Holder of European nation's diamond exploitation monopoly, Alrosa has already invested about USD 150 million in war-ravaged Angola, where apart from State-run Endiama, it maintains partnership with Brazilian multinational Odebrecht and Israel's Daumonty.