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Topic

US sanctions driving Russian billionaires into Putin’s arms

By: Bloomberg     21st September 2018 The Trump administration is helping Vladimir Putin achieve a goal that’s eluded him for almost two decades—getting Russia’s billionaires to start repatriating some of their assets. Relatively muted sanctions imposed during the Obama era over the conflict in Ukraine have only widened in scope and... 

Alrosa reports stable international demand for large diamonds

By: Creamer Media Reporter      13th September 2018 Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel. A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots. 

Alrosa sales in 2019 to exceed production

By: Reuters     11th September 2018 Russian diamond miner Alrosa said on Tuesday that its sales next year would be one-million to two-million carats higher than its production in 2019, the RIA news agency cited Alexei Filippovsky, its CFO, as saying. Alrosa expects it production to be around 37.5-million to 38-million carats next... 

Russian diamond miner Alrosa's net income inches higher in Q2

By: Reuters     24th August 2018 Alrosa, the world's largest producer of rough diamonds in carat terms, said on Friday its second-quarter net profit rose about 1 percent year on year as higher prices helped offset a sales drop. State-controlled Alrosa and Anglo American's De Beers produce about half of the world's rough... 

Russian Ministries reject proposed windfall tax on metals and mining firms

By: Reuters     22nd August 2018 Russian government Ministries have agreed that a proposed windfall tax on metals, mining and chemical companies was inappropriate, Industry Minister Denis Manturov said on Wednesday. "With colleagues from other Ministries, we reached a common position that as of today it's inappropriate," he... 

Angola seeks to stimulate diamond, ornamental stone exports

By: Rebecca Campbell     17th August 2018 The Angolan newspaper “Jornal de Angola” has reported that diamond mining companies operating in the country will, in future, be able to sell up to 60% of their production in the free market, under the country’s new Diamond Commercialisation Policy. Under the previous system, adopted in 2007,... 

Alrosa to put 202 'special' diamonds up for sale at Israel auction

By: Creamer Media Reporter      16th August 2018 Diamond miner Alrosa will offer 202 gem-quality rough diamonds for sale at an auction to be held in Israel from August 19 to September 6. The diamonds, with a combined weight of 3 165 ct, are all larger than 10.8 ct, otherwise known as 'special' diamonds. 

Russian miners explore payment schemes eschewing dollar

By: Reuters     15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

Alrosa sells main diamond from Dynasty collection

By: Simone Liedtke     3rd August 2018 Diamond miner Alrosa on Thursday sold its Dynasty collection, and its central diamond of the same name, a 51.38-ct round stone, for a total of $10-million. The first auction for the sale of the collection, held in November 2017, saw four of the five stones sold, with the excess of final prices... 

Angola keen on South African companies entering its diamond sector

By: Rebecca Campbell     3rd August 2018 Angola is working to ensure that the major South African diamond companies can operate in the country. This was stated recently by Endiama Strategic Planning and Minerals Operations Bureau head Laureano Paulo. (Endiama is Angola’s State-owned national diamond company. Its name is an acronym for... 

Alrosa reports Q2 results, reaffirms FY guidance

By: Mariaan Webb     23rd July 2018 Russian diamond mining major Alrosa has reported an 18% year-on-year production decrease in the second quarter, as the closure of the Mir underground mine in August last year and lower diamond grades continued to weigh on its operations. The miner produced 8.5-million carats in the second... 

Mining at Alrosa’s Zarya to start next year

By: Marleny Arnoldi     20th July 2018 Russian diamond mining group Alrosa’s Zarya diamond deposit in Sakha (Yakutia) is in its final stages before diamond mining will start next year. Since 2016, ten-million-cubic-metres of overburden were removed from the openpit mine, reaching a depth of 100 m. Drainage ditch construction,... 

Exploration at Botswana Diamonds JV project delivers encouraging results

By: Creamer Media Reporter      11th July 2018 The first exploration programme undertaken by Botswana Diamonds’ geologists at the Sunland Minerals joint venture (JV), in Botswana, has revealed “encouraging quantities” of kimberlitic indicator minerals (KIMs) identified at all eight anomalies sampled. A total of 267 KIMs were discovered,... 

Alrosa sells $2.6bn worth of diamonds in H1

By: Marleny Arnoldi     10th July 2018 Diamond miner Alrosa sold $390-million worth of rough and polished diamonds in June, taking half-year sales to $2.6-billion.  

Alrosa unearths soccer ball shaped diamond

By: Mariaan Webb     8th July 2018 Alrosa, the State-owned diamond miner of 2018 FIFA World Cup-host Russia, has unearthed a diamond that bears a resemblance to a soccer ball. The diamond was recovered on July 4, three days before the World Cup quarter finals, in which the Russian national football team lost to Croatia. 

Angola adopts new system for selling its diamonds

By: Rebecca Campbell     6th July 2018 The Angolan Council of Ministers (Cabinet) last week approved a new policy on the commercialisation of diamonds. This is intended to stimulate more investments in the production of the precious stones, as well as to open the market to all those interested in it, explained Mineral Resources and... 

Alrosa to base dividends on free cash flow - Ministry

By: Reuters     26th June 2018 Russian State-controlled diamond miner Alrosa will base its dividend payments on free cash flow rather than net profit starting from 2018, the Finance Ministry said on Tuesday. The company's dividend payouts will not be lower than 50% of net profit, the ministry added. 

Alrosa to lower production at International underground mine

By: Creamer Media Reporter      20th June 2018 Russian mining major Alrosa has revised the production plan of its International underground mine, near Mirny, as it takes a tougher stance on health and safety management. The production plan for 2018 remains unchanged at 36.6-million carats, but under the revised plan for 2019 to 2022, output... 

Alrosa auctioning large rough diamonds in Asia

By: Rebecca Campbell     15th June 2018 Russian diamond mining major is currently holding an auction in Hong Kong for large rough diamonds, and will soon start a second one in Vladivostock. The Hong Kong auction started on June 13 and will run until June 27. The Vladivostock auction will start on June 18 and conclude on June 29. In... 

Angola's top diamond mine says underpricing has cost it almost $500m

By: Reuters     12th June 2018 Angola's Catoca, the world's fifth largest diamond mine, estimates it lost $464-million over the past six years due to a government-imposed marketing system that obliged it to sell production below international prices, a company presentation seen by Reuters showed. The figure was presented... 

Russian diamond miner announces auctions and award of high sustainability ranking

By: Rebecca Campbell     7th June 2018 Russian diamond mining major Alrosa announced on Thursday that it would hold auctions in Hong Kong and Vladivostok for large rough diamonds. The Hong Kong auction will start on June 13 and will run until June 27. The Vladivostok auction would start on June 18 and conclude on June 29. In both... 

Angola to change diamond sector to attract investment – Lourenço

By: Reuters     6th June 2018 Angola will make changes to how its secretive diamond industry works in order to attract more investment, increase production and secure higher government revenue, President João Lourenço said on a visit to Antwerp, Belgium. Africa's second-largest crude producer is trying to open up and... 

Russia’s Severalmaz testing drones for surveying

By: Creamer Media Reporter      29th May 2018 Russian diamond mining company Severalmaz, a subsidiary of State-owned Alrosa, is testing unmanned aerial vehicles (UAVs) for mine surveying of land objects at Europe’s largest primary diamond deposit at Lomonosov. Preliminary results from the UAV testing, which involved a quadcopter and an... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

Russian diamond producer Alrosa says H1 sales to exceed initial expectations

By: Reuters     25th May 2018 Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

By: Reuters     17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

Alrosa sees rosy prospects from colourful diamonds

By: Reuters     16th May 2018 Russia's Alrosa, the world's largest diamond producer by output, plans to boost revenue from selling rare, coloured stones where demand is stable, although it is a niche business. Nature gives fancy colours to about one in every 10 000 rough diamonds of gem quality that are mined around the world. 

Alrosa reports strong Q1 earnings growth

By: Creamer Media Reporter      16th May 2018 Improved market conditions and costs controls have seen diamond miner Alrosa delivered strong first-quarter financial results, with net profit doubling to 33.2-billion rouble. Earnings before interest, tax, depreciation and amortisation increased by 78% on the preceding quarter to 48-billion... 

Alrosa steps up diamond marketing as miner eyes more cutting

By: Bloomberg     15th May 2018 Alrosa, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilize. The Russian firm, which typically hasn’t promoted stones outside Russia, last year... 

Russia’s Alrosa renews cooperation with Belgium diamond centre

By: Rebecca Campbell     11th May 2018 Russian diamond mining major Alrosa and the Antwerp World Diamond Centre (AWDC) entered a new extended cooperation agreement late last month. The agreement was signed in Moscow by Alrosa CEO Sergey Ivanov and AWDC CEO Ari Epstein, the miner reported in a press release. The new deal both extends... 

Alrosa nets $14.8m in Vladivostok large diamond auction

By: Creamer Media Reporter      3rd May 2018 The United Selling Organisation (USO) of Alrosa has sold 101 special size diamonds (weighing more than 10.8 ct) at its most recent auction in Vladivostok, netting a total revenue of $14.8-million. The Russian diamond mining company invited 86 companies from the world’s main diamond trading hubs,... 

Diamond miner Alrosa’s first-quarter production slumps

By: Mariaan Webb     20th April 2018 Diamond miner Alrosa on Friday reported a 17% year-on-year decrease in its first-quarter production, as the shutdown of the Mir underground division weighed on its performance and lower-grade ores were processed from the Jubilee pipe. The miner produced 7.42-million carats in the quarter,... 

Alrosa opens Mumbai representative office

By: Creamer Media Reporter      19th April 2018 Russian diamond miner Alrosa has opened a representative office in Mumbai, India, on the territory of the Bharat Diamond Bourse. The office will not conduct any trading activity and will be concentrated on strengthening ties with Indian market, the company said on Thursday. 

Alrosa switches to cheaper fuel sources to cut operating expenses

By: Creamer Media Reporter      16th April 2018 The conversion of boiler houses and power plants to alternative fuels is expected to reduce the operating expenses of Russian miner Alrosa by about 5.3-billion roubles over the next ten years. In an update on Monday, Alrosa said that it would build a gas boiler-house in Almazny settlement in the... 

Alrosa sells $559.5m worth of diamonds in March

By: Creamer Media Reporter      10th April 2018 Russian diamond miner Alrosa sold $559.5-million worth of rough and polished diamonds in March, an increase on February’s sales of $541.9-million, despite a slight seasonal cooling off in demand during the month. Deputy CEO Yury Okoemov said in a statement that auctions of diamonds larger than... 

Alrosa selects top projects for resuming production at Mir

By: Mariaan Webb     3rd April 2018 Out of the 33 entries in the competition that Russian diamond miner Alrosa launched to find a technical solution for resuming mining operations at the Mir deposit, three projects have been awarded the second and third places, but no outright winner was named. The second place was taken by two... 

Russian diamond company Alrosa posts 28% profit fall

By: Reuters     16th March 2018 Russian diamond producer Alrosa suffered a sharp fall in core profit last year, hit by lower prices for its gems. The world's largest producer of rough diamonds said that earnings before interest, taxation, depreciation and amortisation (Ebtida) fell 28% to 126.9-billion roubles, broadly meeting... 

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