The Grib Diamond Mine: Geology, Ecology and Industrial Safety

Gennady Piven, First Deputy General Manager of AGD Diamonds JSC, talks about his work at the diamond fields in Yakutia and in the Arkhangelsk Province.

10 december 2018

I have a dream to see India become a world leader in high-end jewellery manufacturing - Sanjay Kothari

An industry leader who needs no introduction to the gem and jewellery industry is Sanjay Kothari…the former chairman of the GJEPC of India has held various positions in the Council including being Convener-Exhibitions for many years before becoming Convener-Promotions...

03 december 2018

Style always reflects culture

Reena Ahluwalia is a multifaceted artist …an award-winning jewelry designer, diamond painter, professor, speaker and a community builder and more. Recognized as one of the Top Masters of Jewelry Design and art in Canada, she has been creating jewelry...

26 november 2018

Botswana Diamonds’ Campbell on Alrosa exit: no exploration JV lasts forever

Botswana Diamonds is currently in talks with a major diamond producer interested in taking over a stake in Sunland Minerals previously owned by Alrosa. The Sunland joint venture was established in 2014 to test existing Alrosa exploration technology on...

19 november 2018

If real gems are replaced by artificial stones, it is not the difference in value that sellers may cheat you out, but the very idea that you are to obtain along with a jewelry piece made from a genuine stone

Elena Titova is the Director of the All-Russian Decorative Art Museum. The museum, which she heads, was founded fairly recently (less than 40 years ago), but it is one of the most popular and stylish museums of Moscow, famous, among other things...

12 november 2018

The Guild of Jewellers of Yakutia is concerned about ALROSA’s decision to buy the “Kristall” factory

08 august 2018
The shareholders of the jewellery sector expressed their concern about the upcoming merger of the diamond mining company ALROSA and the diamond cutting factory “Kristall”.  The Guild of Jewellers of Yakutia believes that the acquisition of the factory will have a negative impact on the company’s financial performance, says

Image credit: ALROSA

“There is already a lack of resources. In case “Kristall” is bought by ALROSA, which has a leading position in the diamond industry, the company will first provide its own factory with diamonds,” said Tatiana Kyrbasova, the Head of the Guild.
According to the jewellery sector, ALROSA’s production level fell by 30% after the shutdown of the “Mir” diamond mine, on which the accident had occurred.
The representatives of the industry feel concerned because “Kristall” is in a difficult financial state, thus, buying an unprofitable enterprise may have a negative impact on the company’s financial performance and the dividend payments may fall. This is of great importance for Yakutia, as it is a major shareholder in the company. 
As reported earlier, in May ALROSA received the approval of its Supervisory Board for the acquisition of the “Kristall” diamond cutting factory. It cuts around 300,000 carats a year and generates revenue of around $200 mn.

Victoria Quiri, Rough&Polished