Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

ALROSA is sued for 34.7 billion rubles

08 june 2020
A freezing injunction has already been issued for this lawsuit.

On June 5, the Arbitration Court of the Republic of Sakha (Yakutia) accepted a multi-billion-ruble lawsuit against diamond mining company ALROSA, as it follows from the records of arbitration cases (No. A58-3718 / 2020). This was announced by on Monday. The plaintiffs are Yuri Zhilyaev, Alexander Yankovsky and Dmitry Samsonov.
They demanded to recover 34.7 billion rubles from ALROSA in favor of ALROSA Nyurba PJSC to make up for the latter’s losses. According to the plaintiffs’ estimation, this was the amount of real damage due to the loss of rights to use diamond deposits.
Along with the adoption of the lawsuit, Judge Tatyana Shamaeva granted the plaintiffs' motion for interim measures and temporarily prohibited the registering authority from expelling ALROSA-Nyurba PJSC from the Unified State Register of Legal Entities. As follows from the case file, an extraordinary general meeting of shareholders decided at the end of October last year to liquidate the company on a voluntary basis. The liquidation period is set until the end of 2020.
AK ALROSA PJSC is the world's largest producer of diamonds in terms of carats. The company accounts for 26% of the global and about 90% of Russian diamond production. Its main activity is concentrated in Yakutia, the Arkhangelsk Province, as well as in Africa. AK ALROSA PJSC was established by a presidential decree in 1992. Currently, 34% of the company’s shares are in free float, while the rest belong to Russia, Yakutia and Yakutia’s municipalities.
ALROSA Nyurba PJSC was established in 1997 to develop new diamond deposits in the Nakyn kimberlite field. According to the company’s website, 87.48% of its shares belong to AK ALROSA PJSC, 10% to the Ministry of Property and Land Relations of Yakutia, and 2.52% to various legal entities and individuals.