De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

ALROSA’s sales decreased by 44% in January 2019 compared with last year

12 february 2019
alrosa_logo.jpgThis last January, ALROSA Group’s rough sales reached $ 278.2 million, while its polished sales were pegged at $ 3.4 million, bringing the Group’s total revenue to $ 281.5 million, which is -44% compared with January 2018, when its sales amounted to $504.5 million ($499 million in rough sales and $5.5 million in polished sales). The company reported this in a trade update distributed on Tuesday.
The total sales of ALROSA in December 2018 and January 2019 decreased by 17% compared with December 2017 and January 2018. The Russian diamond miner earned $ 601.9 million in December 2018 and January 2019, while it raked in $ 727 million in the same period in 2017 and 2018.
At the same time, the company mentioned that its cumulative sales in December 2016 and January 2017 stood at $ 537 million.
“In January, market activity was lower than usual. After active restocking at the midstream in December 2018 (our December sales were up 20% qoq and up 46% yoy), our January sales came lower. At the same time combined sales in December 2018 and January 2019 reached three years average number of $601.9 million. Sales in the diamond market are always cyclical, and apparently, we are seeing the expected correction after the peak values in previous periods,” Yury Okoemov, ALROSA Deputy CEO, noted.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg