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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

11 december 2017

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

Russia’s Finance Ministry does not deem it possible to launch a new float of ALROSA in 2017

17 february 2017
(rns.online) – It is impossible to have another round of privatization for ALROSA in 2017, Alexey Moiseev, Deputy Minister of Finance said on Thursday.
"Not this year, for sure. There should be an agreement with the other shareholder (the Republic of Sakha - RNS). We have always said that the sale of the federal stake above 10.9% is impossible. On the part of the Russian Federation, we have now sold just enough to reach this level. Any further reduction of our shareholding will be done in parallel with Yakutia," he said.
According to Alexey Moiseev, the negotiations between the Federal Property Management Agency and the Republic of Sakha has not yet begun.
"I do not see any possibility this year. If it will occur, it will be later," he said.
The privatization of the 10.9% stake in diamond miner ALROSA was completed on July 11, 2016. ALROSA’s President Andrey Zharkov called this floating operation satisfactory and stressed that he saw no need for further privatization.
Last December, Yegor Borisov, the head of Yakutia told RNS that he did not see any need for further privatization of ALROSA either. He noted that additional floating of the Russian Federation’s 8-percent stake in ALROSA was not discussed with the Republic of Sakha (Yakutia). The head of Yakutia reiterated the position that the republic will keep its stake of 25% plus one share, and its uluses (municipalities) will preserve their 8%.
"We believe that today the company is operating quite well. From the point of view of the company’s efficiency ... there is no need to do this. Privatization is generally a way to find an efficient owner," he said.
However, the privatization plan for 2017-2019 received by the RNS news agency in early February 2017 included ALROSA among other companies.


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