ALROSA to allocate 100% of free cash flow for second half-year of 2018 for dividends

Annual General Meeting of Shareholders of PJSC ALROSA decided to allocate 100% of free cash flow for the second half-year of 2018 for the period-end dividend – RUB 30.3 billion.

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De Beers diamond sales continue to weaken

De Beers’ diamond sales continued on a downward trajectory as demand remains weak, while supply for smaller and cheaper stones, is high putting pressure on polished prices.

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India’s cut and polished diamond exports down by 15.12% in May

India’s exports of cut and polished diamonds decreased by 15.12% year-on-year during the month of May 2019 according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

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Dubai Diamond Conference to focus on disruption and technology in the diamond industry

DMCC, the world’s leading free zone for commodities trade and enterprise, will stage the fourth edition of its Dubai Diamond Conference (DDC) on 26 September at the Almas Conference Centre, Almas Tower, Dubai, United Arab Emirates.

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Zim diamond workers demand salary increment

The Zimbabwe Diamond and Allied Minerals Workers’ Union (Zdamwu) has requested an urgent meeting with the National Employment Council for the mining industry to consider salary increment as hyperinflation returns to the southern African country...

Today

Alrosa Seeking Evidence of $10M Embezzled from Catoca Mine

22 may 2019

(thediamondloupe.com) - Russian diamond miner Alrosa believes that the former and current management of Angolan diamond mine Catoca - in which Alrosa holds a 41% stake - is responsible for secreting away nearly $10 million, and will call upon a U.S. court to obtain discovery of evidence. According to Africa Mining Intelligence, the Russian firm has turned to New York court magistrate Judge Paul Gardephe in the hope of gaining access to documents that would prove that Catoca transferred millions of dollars into shell companies scattered around the world - from Hong Kong to the Bahamas, Cyprus, the UK and US.