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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

ALROSA prepays USD 450 mln of bank loans

12 march 2018
ALROSA, the global leader in diamond production, prepaid USD 450 million of bank loans.
ALROSA made an early repayment of a USD 250 million loan from Rosbank and a USD 200 million portion of the existing Raiffeisenbank loan, both raised in December 2017, reducing its debt by more than 27% to USD 1.17 billion.
The bank loans were repaid with the cash proceeds received from the Company’s auction sale of gas assets in February 2018.
“As part of the efforts to improve liquidity management, ALROSA repaid short-term bank loans for a total of USD 450 million ahead of schedule. The resulting savings on interest payments would amount to USD 9 million, positively impacting ALROSA’s financial performance in 2018,” – said Alexey Philippovskiy, Deputy CEO – Chief Financial Officer of ALROSA.

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