Russian diamond company, Alrosa, was reportedly negotiating to develop diamond deposits in Guinea and the Democratic Republic of the Congo.

Alrosa president, Alexander Nichiporuk, said that the group in Guinea has made real progress and was now in talks with the government to obtain licenses.

Commenting on the company's interest in the Democratic Republic of the Congo (DRC), the group president said that with the upcoming elections the group was now considering possibilities of doing business in the DRC. He added that the important thing was for the country to have political stability.

However, he did not disclose further details on the planned deals. Alrosa is Russia's largest diamond company engaged in exploration, mining, manufacture and sales of diamonds and one of the world's major rough diamond producers.

The company accounts for about 100 percent of all rough diamonds produced in Russia and for about 20 percent of the world's rough diamond output.