JOHANNESBURG (miningweekly.com) – The Dubai Multi Commodities Centre (DMCC) and Russian diamond miner Alrosa have agreed to enhance diamond trade cooperation.
The parties discussed options for expanding Alrosa’s trading activities at the Dubai Diamond Exchange – a DMCC entity – as well as agreements on enhanced efforts to stem the flow of undeclared synthetic diamonds entering the marketplace.
“With a relationship that spans 15 years, DMCC is delighted to strengthen its collaboration with Alrosa. As the fastest-growing Free Zone and the third-largest diamond trading centre in the world, Alrosa leverages DMCC and Dubai as a trading hub,” said DMCC chairperson Ahmed Bin Sulayem.
Alrosa’s recently appointed president Sergey Ivanov added that Dubai was one of the world's leading diamond trading centers. In 2016, Alrosa sold rough diamonds worth $259.5-million to companies in the United Arab Emirates.
Alrosa's affiliate Arcos East DMCC has also been successfully operating at the Dubai Diamond Exchange.