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

“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

ALROSA Supervisory Board approves withdrawal from ALROSA-Nyurba by way of its voluntary liquidation

12 september 2019

alrosa_logo.jpgAt the absentee voting on September 10, the ALROSA Supervisory Board approved withdrawal from the share capital of PJSC ALROSA-Nyurba by voluntary liquidation of the company. Consolidation of core assets on the ALROSA’s balance sheet aims at improving efficiency of their management.
In the nearest future, the matter of voluntary liquidation will be submitted for consideration to the Board of Directors of ALROSA-Nyurba, and then to the company’s Extraordinary General Meeting of Shareholders, that may take place in early November.
The company will be liquidated in strict compliance with legal requirements with the process expected to be completed by the end of 2020. According to the law, upon the completion of settlements with creditors, the remaining funds of the liquidation fund of ALROSA-Nyurba will be distributed among the shareholders in proportion to their stakes in the company’s share capital.
Today, PJSC ALROSA holds a 97.4878% stake in ALROSA-Nyurba. The remaining 2.5122% of shares belong to minority shareholders. The shares of ALROSA-Nyurba are quoted in the open market (the equities market of the Moscow Exchange). The company’s 2018 revenue amounted to RUB 44 billion, net profit – to RUB 16.6 billion.
ALROSA-Nyurba holds two subsoil licenses (Botuobinskaya and Nyurbinskaya pipes), however it is not directly engaged in any mining operations. The whole production cycle – from geological exploration, mining and rough diamond processing to sorting, presales preparation and subsequent sales – is carried out on contract terms by ALROSA’s business units. ALROSA-Nyurba currently employs 30 people, most of whom are management staff.