ALROSA – DIAMOND AUCTION – HONG KONG
Russian major diamond miner ALROSA will conduct an auction of rough and polished diamonds within Hong Kong International Jewellery Show 2010 which opened today, ITAR-TASS reported.
ALROSA auctioned 145 rough diamonds at pre-estimate price of $5.2M and 76 polished diamonds worth $2.5M. The auction is closed and attended by application only and to be held during several days.
“The largest of polished diamonds auctioned weighs 15 carats and the largest rough stone is 79-carater,” – a company representative told ITAR-TASS reporter. He said that ALROSA for the first time brings such large stones to Hong Kong which are in increasing demand at the Chinese market.
Hong Kong International Jewellery Show is the most large-scale exhibition in Asia which amassed about 2,600 companies from 44 countries and regions, including wholesale and retail traders and suppliers of jewellery equipment from Israel, USA, European and Arabic countries, mainland China, etc.

BELARUS – JEWELLERY INDUSTRY
The plan of privatization of enterprises for 2010 was amended in Belarus to include several large state enterprises involved in production and marketing of jewellery, Russian Jewellery Network reported.
According to Governmental decree 276, the plan included Republican trading unitary enterprise Belyuvelirtorg and diamond polishing enterprise Gomel production association Kristall.
According to BDG, the government is planning reforming of national jewellery industry. It is anticipated that jewellery producers will be united to a holding having its own distribution network.

BERKSHIRE HATHAWAY – JEWELLERY ASSETS – REVENUE
The investment firm Berkshire Hathaway, founded by Warren Buffett, one of the most highly regarded investors in the world, said its jewellery retail division posted a 12 percent decline in revenues last year, Antwerpfacetsonline reported.
The jewellery subsidiary, made up of retailers Borsheims Jewelry, Helzberg Diamond Shops, and Ben Bridge Jeweler, posted a pre-tax loss for the year.
Berkshire Hathaway did not provide total figures for the jewellery division, putting them together with its other retail businesses.
The group's total retail revenues declined by 8 percent to $2.87 billion, while pre-tax earnings were largely flat at $161 million.
“Throughout 2008 as the impact of the economic recession in the US worsened, consumer spending declined and these conditions continued in 2009,” the group said in a report.
Berkshire Hathaway posted a 4 percent increase in total revenue last year to $112.5 billion, while profits jumped 61 percent to $8.06 billion.

SEVERSTAL – GOLD PRODUCTION – INCREASE
Gold mining assets of Severstal have potential for increase in gold output by 20-25% to 650,000 ounces per year, PRIME-TASS reported citing the press office of Severstal Resurs.
Gold mining assets of Severstal produced a total of 533,967 ounces of gold (16.608 tonnes) in 2009.

UKRAINE – GOLD MINING ENTERPRISE – BANKRUPTCY
Court decision was recently announced is respect of bankruptcy of Zakarpatpolymetally Ltd. and launching of liquidation procedure for the enterprise, Profinews.com.ua reported.
Zakarpatpolymetally Ltd. was founded based on state enterprise Muzhievsky gold polymetal mine and state enterprise Shakhtostroj. The reserves of Muzhievsky gold deposit are estimated at 100 tonnes of gold and 400 tonnes of zinc and lead. The enterprise was owned by state company Ukrainian polymetals (93.67%) and Zakar Resources Ltd. (6.33%).

Rough&Polished