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

Ministry of Economic Development Mulls Privatization of Smolensk-based Kristall

14 august 2014

The Russian Ministry of Economic Development proposes to exclude the Russia’s largets polished diamond producer PE Kristall from the list of strategic joint-stock companies for the purposes of privatization. A draft of presidential decree was prepared by the ministry and published on the portal containing information on legal regulations under development, The Vedomosti newspaper reported citing "Interfax".
It is proposed to include Kristall to the forecast plan for privatization of the federal property in 2014-2016 years. The company is currently 100% owned by the Federal Property Management Agency (Rosimuschestvo).
In 2011 Maxim Shkadov, CEO of Kristall, being one of the largest diamond cutting companies in Europe, told in an interview to Vedomosti that Kristall is a market-oriented company with an open balance, transparent loan portfolio, clear structure investments. "In principle I would like to organize the company's IPO, but there are certain difficulties,"- Shkadov confessed. He noted that Kristall was referred as a strategic enterprise of Russia, therefore any decisions related to IPO, would require special actions at the governmental level. Meanwhile Shkadov said that "the company may be valued at $1.5-2 billion in the foreseeable future.”
In 2009 the status of strategic state-owned company allowed Kristall to obtain support from the country’s budget during the crisis following sharp weakening of demand for diamond production. Within the scope of governmental support of diamond industry the federal government charged Gokhran to acquire rough diamonds from ALROSA and polished diamonds from Kristall. At that time Gokhran purchased polished diamonds having afterwards put the above to the company’s authorized capital. The amount of this contribution was $130 million.
Kristall is the Europe's largest diamond processing plant manufacturing polished diamonds classified as Double Excellent and Triple Excellent. Kristall is the main buyer of rough diamonds of ALROSA within the domestic market. It also has the status of De Beers’ sightholder.
In 2013 Kristall reduced output by 33% in terms of value to $212 million. By volume Kristall’s diamond production dropped by 20% to 137,000 carats.