How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

Yesterday

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

ALROSA says about 90 people at Mirny Mining Division will be retrenched

17 july 2020
alrosa_logo.jpgALROSA said the personnel structure of its Mirny Mining and Processing Division (MPD) is to be changed. The company consolidates the plant and some other units in order to optimize operations while keeping in place as much personnel as possible. The company announced this in a press release distributed on Friday.
“The aim of the reform that will come in force on October 1, 2020 is to reduce operating costs at the Processing Plant #3 and keep jobs,” the press release said noting that “under the realignment, two units to be established at the Mirny MPD, Mining Transport and Processing. They will be staffed with workers from the Plant 3, motor depot and alluvials.”
According to ALROSA, “this rationale is the underutilization of the plant under cost cutting measures the company implemented. The consolidation allows to put the personnel on the job where it is needed instead of furloughing.”
“As of the end of 2019, Mirny MPD employed around 2,600 people. The reorganization involves 670 workers, most of them will be offered to move to one of the newly established units. About 90 people at redundant positions will get compensations and social support implied by the labor law. They will be offered other vacant positions at the company,” the company’s press release said.