“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...


Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

TaTe Diamonds - a Namibian diamond company specialized in Namibian rough

Armed with degrees in Economics and Commerce and an MBA - specialized in Strategic Planning & Business Development, taShi Shiimi-ya-Shiimi is an executive, possessing many years of global experience in Information Technology and Strategic Management...

27 april 2020

Yakutia will treat it with understanding if ALROSA suspends another operation in order to maintain production

14 may 2020
This statement was made by Aisen Nikolaev, Head of the Republic of Sakha (Yakutia) in an interview with Interfax, which was published on Wednesday. Noting that Yakutia is interested in maintaining production and even more so in the company’s stability and social security of people, he said that “if it suddenly happens that some other operation needs to be suspended to preserve the rest of the company’s production, we, of course, will treat this with understanding”, but reiterated that there are no concrete decisions on this subject. In connection with the situation arising from the coronavirus pandemic, ALROSA recently announced a suspension of diamond production at the Aikhal and Zarya mines, which led to a partial personnel retrenchment.
Speaking on the restoration of the Mir mine and the construction of the Yubileiny mine, Aisen Nikolaev said that these projects are still only at the stage of study and consideration, and final decisions with deadlines for them have not yet been made in principle. “But in general, I think that this crisis will not become long-term and accordingly should not greatly affect the implementation of some key long-term projects,” he said.
According to Aisen Nikolaev, who is also the first deputy chairman of the ALROSA Supervisory Board, it is too early to talk about the company paying dividends for the first half of 2020. “This decision will need to be made on the basis of operational and financial results for the first 6 months, as well as the real state of the market at a time when dividends will be discussed,” he said.
In his interview, the head of Yakutia spoke about the proposal put forward by the republic to support ALROSA through the purchase of diamonds by Gokhran, within a one-time deal or by installments, recalling that this mechanism has already been tested in 2008-2009 and the state ultimately benefited from this operation, as the diamonds bought by Gokhran increased in value. “In our opinion, this is an effective (and as the history shows a profitable) measure that could help the company go through the crisis period minimizing potential losses and preserving market leadership,” Aisen Nikolaev emphasized, saying that the final decision on this issue is not yet accepted, but a constructive discussion is underway on this proposal.

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