Rusisan Government Likely to Sell 11% of ALROSA in Privatization Deal
March 01, 16
(IDEX Online News) – The Russian Ministry of Economic Development is thought likely to sell a 10.9 percent stake in ALROSA, as plans to privatize the company become clearer, according to the TASS news agency.
Deputy Minister of Economic Development Nikolay Podguzov, denied that the ministry sought to sell off as much as 19 percent, but did not rule out the viability of further privatization in 2017-2018.
Russian Finance Minister Anton Siluanov said that the government was considering the sale so that it could retain a controlling interest in the mining company.
ALROSA is a conglomerate of several Russian diamond producers, which mines territory in the Republic of Sakha (Yakutia) and the Arkhangelsk region.