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SA’s Vutomi project can start production end of 2018 – John Teeling

Botswana Diamonds entered into an option and earn-in agreement with Vutomi Mining and Razorbill Properties, a private diamond exploration and development firm in South Africa last February. It agreed to pay Vutomi a total of £942,000 in cash, of which...

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Proximity doesn’t matter, your pocket does: Tanzanians interested in tanzanite jewellery can testify

Tanzanite, a rare blue/purple gem, was discovered in the Merarani Hills of Manyara Region in northern Tanzania in 1967, a few miles from Arusha and Mount Kilimanjaro. It is used as a gemstone and of late Tanzanians are manufacturing quality jewellery...

19 june 2017

Global demand for polished diamonds will remain steady – Ali Pastorini

Ali Pastorini, senior vice-president of the World Jewelry Hub, answered questions from Rough & Polished concerning the world diamond market, preferences of consumers and role of bank crediting.

13 june 2017

Eternal values in Malaya Bronnaya Street

The assay supervision in Russia is 317 years old. Much younger is the Moscow Gemological Certification Centre (MGCC) established under the Assay Chamber and located in the same ancient respectable mansion at 18, Malaya Bronnaya Street. The MGCC employees’...

05 june 2017

Diamonds will have the greatest potential in 2017

Mumbai-based Rajesh Bhagat, India Consultant of Hong Kong Trade Development Council (HKTDC) who oversees HKTDC’s operations across India, Sri Lanka and Bangladesh, has been assisting companies, particularly small and medium enterprises (SMEs) in the...

29 may 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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