Diamonds across time

Not so long ago, the global library of professional publications on precious stones was replenished with a unique book about rare diamonds and diamond jewelry published by the World Diamond Museum. Alex Popov, the founder and director of the museum told...

Today

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

ALROSA considers claims presented to it in the Arbitration Court of Yakutia unfounded

09 june 2020
alrosa_logo.jpgOn Monday, Rough & Polished received the following comment from ALROSA regarding the 34.7-billion-ruble claim filed by ALROSA-Nyurba minority shareholders in the Arbitration Court of the Republic of Sakha (Yakutia).

On June 5, Dmitri Samsonov, Alexander Yankovsky and Yuri Zhilyaev, who are the shareholders of ALROSA-Nyurba PJSC, filed a claim in the Arbitration Court of the Republic of Sakha (Yakutia) against AK ALROSA (PJSC) for damages in favor of PJSC ALROSA-Nyurba. The amount of their claims is 34 767 million rubles.
The lawsuit was filed after the licenses for the use of subsoil blocks for diamond mining at the Nakyn deposit were reissued on June 1 by the Federal Agency for Subsoil Use from ALROSA-Nyurba PJSC to AK ALROSA (PJSC) in connection with the ongoing liquidation of ALROSA-Nyurba PJSC.
The plaintiffs consider that the losses of ALROSA-Nyurba PJSC resulted from the forfeiture of rights to use the corresponding subsoil blocks.
AK ALROSA (PJSC) considers the submitted claims to be unfounded, since the decision to liquidate ALROSA-Nyurba PJSC and the liquidation procedure are being implemented in full compliance with the law. Consequently, the consequences of this decision, including the impossibility of retaining the right to use subsoil by a legal entity in liquidation, cannot be the basis for shareholders to have a right for indemnification.
It should be noted that if the claim will be satisfied, the amount collected will fall into the liquidation estate of ALROSA-Nyurba PJSC and will be subject to distribution among the shareholders of ALROSA-Nyurba PJSC in proportion to the number of shares they hold. The share of ALROSA PJSC in ALROSA-Nyurba PJSC is 97.5%.
The court also granted the application for interim measures - to prohibit the registration authority from carrying out registration actions related to the exclusion of ALROSA-Nyurba PJSC from the Unified State Register of Legal Entities for the period of case hearings.

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