Russia's Alrosa to prospect for diamonds in southern Congo

MOSCOW, September 12 (RIA Novosti) - Russia's largest diamond producer Alrosa said on Friday it will prospect for diamonds in southern sectors of the Democratic Republic of the Congo.

The decision was made at a meeting between Alrosa CEO Sergei Vybornov and Congo President Joseph Kabila.

Alrosa has a number of diamond producing projects in neighboring Angola, where it has two joint ventures. The Russian company has a 32.8% stake in Catoca Ltd, and the LUO-Kamachia-Kamajiku mining company, where it controls 45%.

Alrosa accounts for 97% of Russian and 25% of global diamond output. It sold diamonds worth $146.7 billion in 2007. The main shareholders in the company are the Federal Property Fund (37%), private companies (23%), and the government of East Siberia's Yakutia Region (8%).