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 to Close the Sale of 51% in Timir Project Within Two Months

22 june 2012

In June or July OJSC AK ALROSA plans to finalize the transaction on sale of 51% stake in Timir iron ore project to Evraz Plc, according to a statement by ALROSA’s CFO Igor Kulichik during teleconference, cited by RIA Novosti.
“The deal is progressing in compliance with the declared strategy, and in June or July we expect to close this transaction,” – Kulichik noted.
As was previously reported, Evraz sources also expect the deal to be closed shortly.
In September 2011 Evraz and AK ALROSA signed agreement establishing a joint venture aimed at development of Timir iron ore project. Evraz was supposed to acquire 51% stake in Timir Mining and Metallurgical company from the diamond mining giant which will retain 49% share. The parties expected to close the deal in the first quarter of 2012.
The amount of transaction was estimated at about 5 billion rubles. However Federal Property Management Agency has not yet issued appropriate directive within the scope of the deal.
Development of Timir deposits is planned to be implemented in open cast method. At present time the project sees follow-up exploration, preparation of project documentation and financial model.