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Expert reports

Diamonds Once Again Set to Sparkle
(The Wall Street Daily) - They say that diamonds are forever. But recently, the diamond industry has been in a downward spiral, with trade plagued by high production costs and falling prices. It’s been so bad that some of the world’s biggest mining companies, including Rio Tinto PLC and Anglo American PLC, considered selling their diamond businesses. Even the major diamond cartels – including DeBeers and Russia’s Alrosa – have suffered. But thanks to rising demand from emerging economies, diamond prices are back on the rise.

Will rare pink diamond auction sparkle for investors?
(The Telegraph) - Rio Tinto, the world's second-largest mining company, has launched its latest rare pink diamond auction in Australia as prices for the most sought after of precious gems stones are expected to surge.

Zim to try Antwerp again, conduct local diamond auction in Nov
Zimbabwe is again set to conduct diamond auctions in Antwerp, Belgium, before it convenes its own domestic exchange in November this year. The Herald newspaper quoted mines and mining development minister Walter Chidhakwa as saying that Harare was looking at one or two Auctions in Antwerp, the world’s largest diamond trade centre, between now and November this year. He also said that the planned local auction would coincide with the upcoming diamond conference set for Zimbabwe’s capital early November.

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Supervisory Board of ALROSA again chaired by Ilya Yuzhanov
(FINMARKET.RU) - The Supervisory Board of ALROSA is once again chaired by Ilya Yuzhanov, according to the information received from the company on Friday. Yury Trutnev, Deputy Prime Minister of the Russian Government and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, signed the directive prescribing the state representatives sitting on the Board to vote for Ilya Yuzhanov. The representatives of the second largest shareholder, Yakutia, on the Supervisory Board voted on the matter jointly with the representatives of the Russian Federation.

ALROSA reports H1 IFRS results
H1 2014 ALROSA revenue increased by 27% y-o-y and reached RUB 104.8 bn. EBITDA grew by 34% y-o-y and reached RUB 47.3 bn. EBITDA margin increased to 45%. H1 2014 net profit amounted to RUB 23.1 bn, up 58% y-o-y.

AWDC takes part in Open Company Day for the third year running
Sunday, 5 October marks the 24th edition of Open Company Day. After the great successes of the past two years, AWDC is once again taking part in the event.

Brazil Minerals Doubles Processing Shifts at Gold and Diamond Mine
Brazil Minerals, Inc. announced this week that its subsidiary, Mineracao Duas Barras Ltda. (MDB), had hired additional mine workers to be able to process for gold and diamonds every day of the year, including weekends and holidays. MDB operates an open pit mine and its plant is the largest alluvial processing plant for gold and diamonds in Latin America.

Over 80% of Office Space Leased at Phase 1 of Panama Gem & Jewelry Center
As construction of the Phase 1 building at the Panama Gem & Jewelry Center nears completion, the Panama Diamond Exchange reports that about than 80 percent of the offices available in the facility are already leased.

Bonhams to Auction a Recent Find of Agatha Christie's Jewels
Hidden treasure from the home of the U.K.'s much-loved author, Agatha Christie, comes to light at the Bonhams, Knightsbridge Jewellery auction on October 8.

Namibian diamond cutters ask for more stones - NDTC
Namibia Diamond Trading Company (NDTC) said diamond cutters and polishers in the country are asking for an increased allocation of locally produced stones.

DiamondCorp to commence SA underground kimberlite mining ahead of schedule
DiamondCorp said it will commence underground kimberlite mining from the “high-grade” Upper K4 (UK4) block at its Lace mine in South Africa in the first half of 2015, six months ahead of schedule.


Botswana Diamonds salutes JV partner Alrosa as ‘top’ targets drilling commences Sept
Botswana Diamonds said its Sunland joint venture with the Russian diamond giant, Alrosa is proving to be fruitful. Company chairperson John Teeling told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that their strategy in Orapa, Botswana would have been different had they not partnered with the Russians. He also said that apart from its partnership with Alrosa, Botswana Diamonds believed that it was operating in the right area. Teeling noted that they had “excellent” indications that there are undiscovered kimberlites in Orapa.


Kristall + ALROSA = Merger with Far-Reaching Consequences
Organizationally, the diamond industry in the USSR was characterized by a truly Spartan simplicity and logic. Mines, mining companies and processing plants were part of the association called Yakutalmaz. Polished diamonds were made by the factories grouped within the Kristall Manufacturing System. Almazyuvelirexport sold goods overseas. The idea to integrate all of these specific activities into a conglomerate apparently never occurred to the Council of Ministers of the USSR. The Russian government did not think about it either when it established the diamond mining company called ALROSA. However, the prospect of vertical integration started to loom in dead earnest before the Russian diamond industry in 2014.

Pros and cons of “export maneuver” by ALROSA
Over the past few years, ALROSA has done much to reduce dependence on the volatility of the diamond market, but the main risk facing the miner now is not at all related to a fall in prices for precious stones. Investors are concerned about the possibility that this government-owned Russian company will be submitted to sanctions by the European Union. Meanwhile, the more you explore the possibility of re-directing the supply of rough diamonds by ALROSA, the more question marks arise.

HRD Antwerp
9th China Gold & Precious Metals Summit 2014


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