Lab-grown diamond jewellery sales to breach the 10% mark for the first time this year – Zimnisky

The supply and demand for man-made diamonds had been on an increase in recent years, much to the discomfort of the natural diamonds industry. Some companies in the mid-stream segment of the natural diamond industry are now involved in the lab-grown business...

28 november 2022

Diamond mining and diamond synthesis: Which is more efficient?

Vladislav Zhdanov - Professor at the National Research University Higher School of Economics and former Vice President of ALROSA (2015-2018). He is a physicist by profession. Vladislav Zhdanov was educated at the Ural Federal University (General...

21 november 2022

The success of TAGS over the past 5 years has encouraged many large tender houses to establish regular and sizeable tender operations in Dubai

Mike Aggett is an experienced Private Consultant with a demonstrated history of working in the mining and metals industry. Skilled in Luxury Goods, Business Planning, Sales, Gemology, and Jewelry, Mike is a professional who graduated from Dover College...

14 november 2022

It all starts with stones - it is they that give impetus, determine the image and embodiment

Maxim Selikhov is the founder of the SelikhoV Diamonds brand launched in 2006, and the company manufactures unique handmade jewellery with rare high-quality gemstones. He is also known as a collector of unique and large-size jewellery stones who considers...

07 november 2022

‘Our technologies – CVD machines and growing technology – are game changers’, asserts Arnaud Flambeau, Executive Chairman, 2DOT4 Diamonds LLC

Arnaud Flambeau is the Executive Chairman of ‘2DOT4 Diamonds LLC’, Dubai, a fully integrated lab-grown diamonds company. The Company provides rough 'as grown' diamonds, in-house polished IGI certified loose polished diamonds and high-quality...

31 october 2022

ALROSA to sell 8.2% of Catoca diamond mining company to Endiama before the end of 2018

19 march 2018
ALROSA plans to sell an 8.2 percent stake of the diamond mining company Catoca in Angola to Endiama by the end of this year, RIA Novosti reported citing Russian company's president Sergei Ivanov.
"We acquired 16.4 percent of the shares of the Angolan Katoka from the Brazilian company Oderbrecht, and in accordance with the original agreement we intend to sell (part of the stake), and the state company Endiama intends to purchase 8.2 percent of Katoka shares by the end of the year. We buy half of this stake and provide Endiama with payment installments on terms attractive to Alrosa," he said during a conference call.
Earlier it was reported that Alrosa will spend $70 million to acquire an 8.2 percent stake in Catoca mining after Brazil-based Odebrecht Mining Service Investments agreed to divest from the mine.
Angolan President, João Lourenço paved the way for Wargan Holdings, wholly-owned by Russian diamond giant, Alrosa to acquire Odebrecht’s 16.4 percent stake, which it would distribute to Alrosa and the Angolan state-owned diamond company Endiama in equal shares of 8.2 percent.
Alrosa also revealed that it would use its own funds to acquire the 8.2 percent stake. Endiama would similarly pay $70 million for its shares.
Alrosa and Endiama’s shares in Catoca would grow to 41 percent respectively while the remaining 18 percent would be owned by a Chinese firm, LL International Holding.
Catoca, which operates Angola’s largest diamond mine, saw its revenue jump 2 percent to $593.6 million in 2016 as sales volume leaped 6 percent.
Its sales volume also grew to about 7.3 million carats in 2016 from 6.9 million carats, a year earlier while net profit leaped 16 percent to $134.6 million.