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

Deputy Prime Minister of Russia asked corresponding agencies to carry out an audit of economic activities efficiency of ALROSA

19 september 2014
Yury Trutnev, Deputy Prime Minister of Russia, has asked the corresponding agencies to carry out an audit of economic activities of ALROSA, Interfax news agency quoted Olga Dergunova, Head of the Federal Property Management Agency (Rosimushchestvo) as saying.
"It happened so that it was asked to audit ALROSA in a specific way. Trutnev asked to pay attention to the way economic efficiency is performed", - Dergunova said.
She added that the Federal Property Management Agency met the representatives of the company and Finance Ministry. Audit Chamber was informed about the audit.
"There are different ways of doing it. Audit Chamber has its own, Rosimuscchestvo and Russian Federation as a shareholder has the instruments of revision commission, that follows up economic management activities".
According to Dergunova, the revision commission shall complete its check by the end of 2014, after that audit shall be carried out, and by April 2015 – when preparations for annual shareholders meeting will be under way - all the documents shall be prepared in accordance with standards.
No other audit of ALROSA apart from that of revision commission shall be carried out, Dergunova said.
Last week ALROSA’s spokesperson said that they had no information about the upcoming audit of the company mentioned in the media. If such an audit will be carried out, ALROSA will provide all the required data.
According to the spokesperson, the management of ALROSA is ready to prove the effectiveness of the development pattern chosen by the company using solid arguments backed by the company’s financial and economic performance. In 2013, ALROSA boosted its revenue twofold compared to 2009, driving its net profit 9 times as much and almost tripling its tax payments. In many ways, this result is due to the transition carried out by the company to the new sales policy based on long-term contracts with customers starting from 2009, as well as owing to its chosen strategy focused on its core diamond mining business and disposal of non-core assets. This strategy was well received by investors in the course of floating ALROSA’s shares.

Pavel Tolmach, Rough&Polished correspondent