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...

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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...

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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...

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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...

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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...

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51% Share in OJSC Nizhne-Lenskoye is Valued at RUB 3.5 Billion

13 november 2012

Ministry of Property and Land Relations of Republic Sakha (Yakutia) announced an auction on disposal of registered ordinary shares in OJSC Nizhne-Lenskoye. A total of 25,901,806 units, equivalent of 51% of the company’s share capital, to be put on sale, reported.
Starting price for the shares is set at RUB 3,500,000,000. Applications for participation in the auction are to be filed till December 4, 2012, while the auction will be closed on December 8, 2012.
Based on the valuation stipulated in documentation for the auction, Yakut ministry values the company at RUB 7 billion in the whole. Meanwhile, as of September, 2012, total debt of OJSC Nizhne-Lenskoye reached RUB 8.2 billion.
AK ALROSA is seen as the main candidate for purchase of the company. Two of its subsidiaries – OJSC Almazy Anabara and OJSC Severalmaz - had got approval of Federal Antimonopoly Service for acquisition of 100% share in OJSC Nizhne-Lenskoye, while the financing limit of Severalmaz allocated for this purchase, set by ALROSA does not exceed RUB 7 billion.
“We expect positive impact of this transaction of ALROSA,” – the company’s experts commented. “Given the effect of production, investment and distribution resources provided by ALROSA, Nizhne-Lenskoye is set to increase profit margin and secure an additional cash flow.”
On the other hand, some experts note that this acquisition might become a headache for ALROSA. The reason is that ALROSA pursues the purchase Nizhne-Lenskoye to some extent involuntary – with the view to prevent the other large players to enter the market.
“ALROSA shall be cautious, should another applicant be the winner in this auction,” – diamond experts say. “In particular, if foreign capital will stand behind the deal.” More over, given high purchase price of these share, liabilities of Nizhne-Lenskoye will be a great burden of ALROSA.”
Other candidates for the above asset include Uspekh 2012 Ltd. and FinConsult Ltd. which have also got FAS approval for potential purchase of 100% voting shares in OJSC Nizhne-Lenskoye.