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...

25 october 2021

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 intends to further reduce production guidance in 2021-22 compared to the current year

18 may 2020

alrosa_logo.jpgALROSA is considering the possibility of reducing production in 2021-22 to 26 million carats on an annual basis from the already revised 32 million carats this year due to the crisis in the diamond market.
This is stated in the presentation for the issuance of the company's bonds, as per Finmarket quoting Interfax.
This is a serious downward change compared to previously published long-term production forecasts for 2021-30 of 37-38 million carats.
The production will be reportedly cut for the assets with high costs and low prices for raw materials. The production adjustments, according to the report, are estimated at 4 billion rubles.
The adjusted production plan will be reviewed by the Supervisory Board of the company in May this year.
ALROSA has already cut its production plan to 32 million carats in 2020 from 34.2 million carats, which is already a decrease of 6%.
Such a step may be associated with the suspension of activities at the the Aikhal underground mine and Zarya open pit, which account for about 2.6 million carats of diamonds or less than 7% of annual production.
Earlier it was reported that the operations at the Aikhal mine and the Zarya pit were temporarily suspended from May 15 to September 30 this year due to the “decrease in demand and sales for diamonds, as the major consuming economies are struggling with economic headwinds caused by the global spread of COVID-2019 virus”.
Measures taken by governments around the world to curb the spread of coronavirus infection are seriously affecting the diamond mining sector. Most of the mines in Botswana, South Africa and Canada have already switched to care and maintenance. Many diamond mining companies are revising their production plans downward. De Beers has revised its 2020 production guidance to 25-27 million carats from the previous target of between 32 and 34 million carats in response to the impact of COVID-19 on mining operations.
Angolan Endiama also revised its diamond production target in 2020 and reduced it to 8 million carats compared with the previous plan of 10 million carats.

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