ALROSA's net profit for the first quarter fell 87% y-o-y

ALROSA’s net profit for the 1st quarter of 2020 under IFRS amounted to 3 billion rubles, which is a 74% drop from 11.7 billion rubles compared to the previous quarter and fall of 87% compared to last year due to non-cash factors.

Yesterday

Indian diamond manufacturers urged not to import rough diamonds in June

At present, about 30 per cent diamond manufacturing units in Surat have resumed operations, due to shortage of workers.

Yesterday

Angola H1 diamond revenue falls

Angola’s diamond revenue has dropped in the first half of the year, according to the governor of the National Bank of Angola, José de Lima Massano.

Yesterday

ALROSA’s Severalmaz cuts production

PJSC Seralmaz, part of the ALROSA Group, will reduce production at its Lomonosov Division in 2020 due to the closure of the Group’s key sales markets and a slump in demand for diamonds amid the coronavirus pandemic.

Yesterday

Titan to record decreased profit for 1H due to COVID-19

Tata Group company Titan recently announced that the company’s operating cash flow was negative in the last two months due to virtually zero sales in the first six weeks of lockdown.

Yesterday

Rapaport Proposes Sierra Leone Diamond Reform

14 may 2019

(Rapaport) - The Rapaport Trade Mission to Sierra Leone attracted a strong group of 29 international diamantaires and jewelers. Participants were from the US, India, UAE, UK, Switzerland, Turkey, Canada, Spain, and Israel. For many, the trip was transformative as they visited the diggers in their villages and came face to face with the challenges and opportunities confronting the artisanal digger communities.