Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

Today

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

ALROSA's sales dropped by 59.5% in March against one year ago

10 april 2020
alrosa_logo.jpgThe company said its sales of rough and polished diamonds amounted to $ 152.8 million in March 2020, down 59.5% vs March 2019 ($ 377.1 million). ALROSA earned $ 148.7 million from rough sales (against $ 369.2 million last year) and $ 4.1 million from polished sales (against $ 8.0 million last year).
Totally, the diamond miner raked in $ 904.2 million from sales in the first quarter of 2020 against $ 1.004 million in 2019 (a decrease of 10%). ALROSA also announced that it had terminated long-term contracts with some of its customers.
“March demand for rough and polished diamonds in all key markets demonstrated a steep decline. The uncertainty in February was followed by severe restrictions and even the suspension of trading because of border closures and quarantine measures across the world. Needless to say that this has had an extremely adverse effect all along the diamond pipeline. In this turbulent environment, the situation at the start and at the end of our trading session in March was completely different. That is why we had to adjust and offer more flexible sales terms on the go.
We would like to thank those of our customers who stick to our long-term contracts, though with several companies we had to terminate such contracts and switch to spot sales,” says Evgeny Agureev, Deputy CEO of ALROSA. “However, according to the latest news, the epidemiological situation in China, one of the major diamond markets, is gradually improving and moving towards less strict quarantine measures. This gives us the hope that this market will be the first to start recovering the demand in the nearest future.”

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