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 needs to think about the future - Trutnev

22 july 2020
During a press conference with Yury Trutnev, Russian Deputy Prime Minister and Alexander Kozlov, Minister for the Development of the Far East and the Arctic held on Tuesday at Interfax, the participants raised the issue of diversifying ALROSA's business.
The Deputy Prime Minister said that he would not impose diversification on ALROSA, although he was concerned about the future of the diamond market, Interfax reported. “I haven’t received any feedback from the company [in response to the idea of diversification]. I'm definitely not going to impose any policy on the company. I understand perfectly well that from the point of view of valuations on the stock exchange and in business, this is a risky option,” Trutnev said.
“But it seems to me that the future of diamond jewelry is at high risk due to the production of man-made diamonds. It seems to me that ALROSA needs to think about the future in more detail,” Trutnev added. “The company has management, there is a board of directors headed by Anton Siluanov. Let them make a decision. But I am worried about the fate of the company, because this company is pivotal for Sakha-Yakutia, as a huge part of this republic's budget and a large number of jobs depend on it,” the Deputy Prime Minister noted.
“Therefore, I would like the company to stand firmly on its feet, so that the greatest possible economic effect from mined diamonds remains on the territory of the Russian Federation. Therefore, I have long and systematically been pushing for the development of diamond manufacturing,” he said, noting that the movement towards deeper positions in diamond processing has begun with new diamond manufacturing centers created in Vladivostok and Yakutia.