Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

ALROSA's net profit under RAS for the first half of 2019 decreased to 36.3 billion rubles

08 august 2019

alrosa_logo.jpgALROSA PJSC, the head company of the ALROSA Group, published financial results for the first half of 2019 under Russian Accounting Standards (RAS).
ALROSA's revenue under RAS for the first half of 2019 decreased by 29% compared to the previous year to 89.1 billion rubles, which was due to a general deterioration in the situation on the world diamond market. The decrease in revenue was reflected in the RAS net profit indicator - in the first six months of this year, it decreased by 30% year-on-year to 36.3 billion rubles.
Member of the Board of PJSC ALROSA, Evgeny Agureev, said: “The decrease in revenue compared to last year occurred against the backdrop of significant crisis phenomena in the diamond industry, which are based on a whole range of different reasons. Excessive stocks in the cutting sector generated during the period of high demand and high expectations last year, financing difficulties faced by Indian cutters, the crisis in trade relations between the USA and China, the two largest markets for the consumption of diamond jewelry, the departure of jewelry brands online and, as a result, they don’t have to keep significant stocks of finished products in retail - these and other reasons negatively affected the sales and financial results of all global mining companies. At the same time, the decrease in the volume of products sold by diamond mining companies, along with other measures taken by major players, contribute to a gradual increase in market balance and stabilization of sales.”
IFRS results for the QI 2019 are scheduled to be published in mid-May of this year.