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...

06 september 2021

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

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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

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23 august 2021

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

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16 august 2021

ALROSA Sells One of the Non-core Assets

05 june 2014

ALROSA finally disposed one of its most problematic non-core assets, reported.
Dulisma oil company owned by Alexey and Yury Khotin is reported to have acquired 100% of CJSC Irelyakhneft involved in oil production in Western Yakutia, from diamond company ALROSA. The deal is valued at RUB 1.8 billion.
This asset had been a part of a package deal between ALROSA and Rosneft involving sale of four oil and gas assets of ALROSA, but following announcements in Spring this transaction was postponed for a year. However, disposal of Irelyakhneft will not pose an additional threat to the agreement between the two state-owned companies. According to the sources Rosneft had never been interested in this particular asset, Kommersant newspaper reported.
The fact that ALROSA has completed the sale of Irelyakhneft was confirmed by a source familiar with details of the transaction. According to the source, the transaction took place in early June, and Dulisma was the buyer 100% of shares of the oil company, the amount of transaction being RUB 1.8 billion. Dulisma has already paid RUB 1.7 billion with the outstanding RUB 100 million to be paid by the end of June,” – the source added.
ALROSA confirmed the deal, without disclosing the details.
“The sale of Irelyakhneft is seen as the next step in implementing the group's strategy to focus on its core diamond business and gradually dispose non-core assets ," - the representative of ALROSA said.