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

ALROSA to invest 12 billion rubles in a diamond field in the Arkhangelsk Region

12 march 2018

The project is expected to last until 2043

(TASS) - ALROSA will invest 12 billion rubles in the further development of the Lomonosov diamond field in the Arkhangelsk Region. Andrey Pismenny, CEO of Severalmaz (a subsidiary of ALROSA) told this to journalists on a visit to the company’s mining complex.
"It was decided to scale up the project with a lifetime until 2043. Our deposit consists of six diamond pipes, and we are currently working on the so-called southern group of diamond pipes developing the Arkhangelskaya and Karpinsky-1 diamond pipes. It was decided to reconstruct these quarries increasing the amount of extracted ore. <...> This will be the third stage [in the development of this field], and the reconstruction of the Karpinsky-1 and Arkhangelskaya diamond pipes is estimated at 12 billion rubles," he said.
As Pismenny explained, this year his company will start designing a project and purchasing additional mining equipment. "According to our estimates, we will work on the southern group of diamond pipes until 2035, and then starting from 2035 onwards, we will move to the northern group of diamond pipes that are located 5-6 km from the southern group and include the Pionerskaya and Lomonosovskaya diamond pipes, which will be mined until 2043-2045," he explained.
Severalmaz is a Russian diamond mining company, a subsidiary of ALROSA. It owns a license for Europe's largest diamond deposit named after Mikhail Lomonosov, the development of which began in 2005 when the company launched a mining and processing plant with a production capacity of 1 million tons of ore per year. The second stage in the development of this enterprise is considered to have commenced in 2014, when the company commissioned the second module of the factory able to process 3 million tons of ore per year.
There are two diamond deposits in the Arkhangelsk Region. The second one - named after Russian geologist Vladimir Grib – is being developed by Arkhangelskgeoldobycha. In 2017, the revenue raked in by diamond mining companies in the area reached almost 25 billion rubles. Of these, they paid nearly 4 billion rubles in taxes. According to experts, the Arkhangelsk Region produced about 7.5 million carats of diamonds in 2017.