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Alrosa Extends Supply Contract to March 2021
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Alrosa has delayed its new supply contract for rough buyers until early next year due to uncertainty in the diamond industry, the Russian miner said Friday.The current market environment has made it hard...
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Rough Markets
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Oct 25, 2020
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Rapaport News
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Alrosa Upbeat as Diamond Sentiment Improves
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Alrosa gave a positive assessment of the diamond market ahead of the holidays after rough and polished trading picked up in the third quarter.The Russian company’s rough-diamond sales climbed to $552.9 million during the three months...
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Mining
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Oct 18, 2020
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Rapaport News
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Alrosa Nearing Inventory Deal with Govt.
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Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods.Gokhran — Russia’s state gem and precious-metal depository — would...
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Rough Markets
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Aug 06, 2020
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Joshua Freedman
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Alrosa Reelects Finance Minister as Chairman
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Alrosa’s supervisory board has reelected Russian Finance Minister Anton Siluanov as its chairman. He has held the position since 2015.Members of the board also reelected Aysen Nikolaev, head of the Republic of Yakutia, as first deputy...
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Mining
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Jul 14, 2020
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Rapaport News
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Alrosa Monthly Sales Plummet Again
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Alrosa’s diamond sales fell 86% year on year to $31.3 million in June as contract customers continued to delay buying rough allocations.“For the third time in a row, we offered our long-term customers unprecedentedly flexible sales conditions, including...
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Rough Markets
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Jul 12, 2020
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Rapaport News
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Alrosa Delays July Sale to Later in Month
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Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled...
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Rough Markets
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Jul 09, 2020
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Rapaport News
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Buyers Snub De Beers and Alrosa over High Prices
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De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers.“[The major miners] want to hold on to prices, so people don’t see any...
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Rough Markets
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Jun 29, 2020
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Joshua Freedman
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Virus Cases Force Shutdown at Alrosa Mine
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Alrosa has suspended operations at its International underground mine for up to two weeks after “several” employees tested positive for coronavirus.The Russian miner will only carry out work to ensure the safety and maintenance...
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Mining
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Jun 25, 2020
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Rapaport News
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Rough Prices Climb at Grib Auction in Antwerp
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Grib Diamonds noted a modest increase in rough prices versus pre-lockdown levels as demand returned following a two-month pause in sales.The Belgian company, which sells production from AGD Diamonds’ Grib mine in Russia, brought in just over...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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Alrosa Pauses Production at Two Mines
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Alrosa has suspended production at two of its less profitable mines, citing the heavy impact of the coronavirus on diamond demand. The company will also rethink its group output plan for 2020 at its board...
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Mining
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May 05, 2020
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Rapaport News
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Alrosa Reduces Inventory in First Quarter
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Alrosa maintained its production forecast for 2020 as the company reduced its rough-diamond stockpiles in the first quarter despite weak market conditions.The miner expects production to fall 11% to 34.2 million carats this year,...
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Mining
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Apr 16, 2020
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Rapaport News
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Kimberley Process Plans to Digitize Its Certificates
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The Kimberley Process (KP) is trialing the use of digital certificates for rough-diamond shipments, claiming the method will increase efficiency and reduce fraud.Russia, which is chairing the global certification scheme this year, will...
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Financial-Legal
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Apr 05, 2020
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Joshua Freedman
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Alrosa Allows Clients to Defer All Purchases
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Alrosa is allowing full flexibility at next week’s monthly rough-diamond sale, enabling long-term clients to delay purchases until later in the year due to the current weak market.“The spread of coronavirus and counter-pandemic measures implemented around...
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Rough Markets
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Apr 02, 2020
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Joshua Freedman
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Alrosa to Maintain Supply Flexibility
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Alrosa has pledged to remain flexible with its supply policy during the current industry downturn, as the coronavirus has left clients unsure how much rough to buy.“The virus has triggered uncertainty, and our...
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Rough Markets
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Mar 08, 2020
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Rapaport News
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Grib Diamonds Taps New Rough Source
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Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia.The Antwerp-based company, which markets most of the Grib deposit’s diamonds, is looking to source goods...
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Rough Markets
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Feb 09, 2020
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Joshua Freedman
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Alrosa Reveals Client List for 2020
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Alrosa has named 58 companies that qualify for its long-term rough supply in 2020.The annual reshuffle saw the mining company remove Belgium-based Blue Gems and Russia’s EPL Diamond from the roster, while...
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Rough Markets
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Feb 06, 2020
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Joshua Freedman
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Russian Bank Offers Credit to Alrosa Client
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Russia’s Eximbank has started offering credit to rough-diamond buyers through a loan deal with an Antwerp-based Alrosa client, the miner said.The state-owned lender has agreed to finance purchases for manufacturer and trader Dali Diamond...
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Financial-Legal
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Feb 03, 2020
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Rapaport News
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Alrosa Releases 2020 Supply Schedule
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Alrosa has published its schedule of contract sales and auctions for next year.The Russian miner has maintained its format of monthly sales under the Alrosa Alliance, its long-term supply program. It will also...
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Mining
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Dec 31, 2019
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Rapaport News
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Zimbabwe to Take Smaller Cut of Diamond Sales
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Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields.The government proposed a new royalty rate of 10% in theannual budget last week. Diamond...
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Mining
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Nov 18, 2019
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Rapaport News
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Alrosa Sales Down as Cutters Reduce Stock
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Alrosa’s sales fellin the third quarter amid a drop in the average price as the miner sold alarger proportion of small stones, it reported Thursday.Sales decreased 37% to $611 million for the three months ending September...
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Mining
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Oct 22, 2019
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Rapaport News
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