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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

Yesterday

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Sergey Ivanov, President of ALROSA met with João Lourenço, President of the Republic of Angola

14 november 2017

Sergey Ivanov, President of ALROSA paid a working visit to the Republic of Angola on Monday. During the visit, Sergey Ivanov met with João Lourenço, President of Angola and discussed issues related to the development of bilateral cooperation in the mining and sale of rough diamonds.
The President of Angola stressed, in particular, the importance of higher transparency and effectiveness of the current system used to sell diamonds mined on Angola’s territory. According to Sergey Ivanov, ALROSA is ready to submit appropriate proposals to the Angolan side for consideration. "These proposals will take into account not only international experience, but also the specific features of the Angolan economy and legislation. We believe that their implementation will help to increase profitability and scale up the tax base and dividends in the Republic of Angola," Sergey Ivanov said after the meeting.
At another meeting, this time with José Manuel Ganga Júnior, the recently elected President of ENDIAMA E.P., the country’s national diamond mining company, the parties discussed the operation of CATOCA, their shared joint venture. The president of ALROSA confirmed that by the end of this year his company plans to close the deal for purchasing a 8.2% stake in the share capital of CATOCA from Brazil’s Odebrecht. At present, the shareholding of ALROSA in the authorized capital of this mining company is 32.8%. The transaction value is estimated at $ 70 million.
The parties discussed the issues related to the financing of another international venture, Luaxe, established in May this year, as well as the expansion of cooperation in exploration and study of the resource potential possessed by the diamond industry of Angola.
During the visit, the president of ALROSA also met with the heads of several ministries of the Republic of Angola, as well as with the head of the Administrative Council of Sodiam.
ALROSA is a co-founder of Sociedade Mineira de Catoca and intends to take part in the development of the Luaxe concession (including the Luele diamond pipe) through this partnership. Starting from 2014, ALROSA and ENDIAMA have been carrying out geological exploration in Angola as part of a joint venture.

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