De Beers has agreed to take over the financing of Archangel Diamond Corporation's fight to recover its Russian diamond mining licence.
For an outlay of a mere C3m, which Archangel apparently cannot afford, De Beers believes it will improve its chances of winning back the mining licence and enforcing the legal agreement on which it was based. If that were to happen, De Beers would gain a 40% stake in the best new diamond deposit in Russia.
