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 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.