Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 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.