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

Oppenheimer Fund Raises its Stake in ALROSA to 2.4%

12 may 2014

Oppenheimer Developing Markets Fund, which owns shares of Russian companies worth nearly $3 billion continues expanding of its stake in a leading independent gas producer in Russia. As of December, 2012, the fund held 4.57 million GDRs of Novatek, which was equivalent to 1.5 % of the company’s share capital. This share was thereinafter expanded to 1.8%, totaling 2.1% as of the beginning of September last year, and rose to 2.17 % by December.
Within the period from December to February Oppenheimer Developing Markets once again increased its share in Novatek, and at the beginning of March 2014 it was holding 7.489 million GDR of Novatek with the market value of nearly $950 million, or 2.47% of the share capital, according to the report filed by the fund.
Oppenheimer Developing Markets is one of the largest funds specializing in investing in emerging markets, its investment volume at the beginning of March reached $38.6 billion.
Until the recent time its portfolio consisted of only four Russian companies, namely Novatek, Magnit, Yandex and Eurasia Drilling Co., and in October last year OJSC ALROSA was added to the list. Oppenheimer was one of the key participants of the recent IPO of the diamond monopoly.
As of the end of November, Oppenheimer Developing Markets controlled about 2.16% share in ALROSA valued at $168 million. By March 2014 the share rose to 2.42% (178.2 million shares worth $192 million), according to the report.