Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

ALROSA Anticipates Reduction of Debt to $2.7 Billion by the End of 2012

18 may 2012

OJSC AK ALROSA intends to reduce its debt load 1.5 times to $2.7 billion by the end of 2012, according to a recent statement by the diamond mining company’s CFO Igor Kulichik at teleconference, PRIME reported.
Total debt of ALROSA as of May 2012 stands at $4.054 billion, average interest rate per debt obligations is 6.57%. At present time midterm and long-term instruments account for 59% of ALROSA’s debt portfolio.
Igor Kulichik noted that significant reduction of the level of debt shall be backed primarily by the proposed sale of 51% share in Timir iron ore project to Evraz Plc as well as disposal of ALROSA’s gas assets. This will be also facilitated by positive cash flow of ALROSA which is expected to be equal to the corresponding levels of 2011.
Meanwhile Kulichik stated that should the transactions on sale of the above assets be aborted, ALROSA might proceed with refinancing of its short-term debt in Autumn, this year.
“The probability of these developments is relatively low, and later in Autumn it will be clear whether we shall do that or not,” – Kulichik added.