Login

Ali Pastorini: Selling just the idea of glamour is no longer enough

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 may 2018

Diamonds are shifting from occasional to daily wear

Joy Alukkas started his first jewellery showroom in UAE in the year 1987, and today the Joyalukkas Group is a multi-billion global conglomerate with varied business interests. Beginning with a single jewellery room in Abu Dhabi, Joy Alukkas has grown...

14 may 2018

GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

07 may 2018

Johnson: ASM diamond sector a potential new source of supply for De Beers

De Beers recently said that it is planning to pilot a programme called GemFair that will create a “secure and transparent route” to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair would partner with the Diamond...

03 may 2018

Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

23 april 2018

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.


Comments

Only registered users can add comments (Register, Login)