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Alrosa Nets Fish-Shaped Diamond
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Alrosa’s knack for recovering unusually shaped diamonds hasscaled new heights with the discovery of a rough stone resembling a fish.“In the photo, you see a very rare specimen: a rough-diamondcrystal which pretends to be a fish,” the Russian...
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Mining
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Aug 01, 2019
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Rapaport News
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Alrosa Sales Fall Amid Diamond Oversupply
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Alrosa’s sales continued to slump in June, closing off afirst half that saw a heavy drop in demand for its rough. The Russian miner’s total sales slid 43% to $222.4million for the month, it reported Wednesday....
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Mining
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Jul 10, 2019
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Rapaport News
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Global Diamond Production Value Rises
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Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
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Mining
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Jul 07, 2019
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Rapaport News
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Alrosa to Hold Back Supply in 2019
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Alrosa plans to keep its rough-diamond sales in line withproduction in 2019 to avoid flooding the market with excess supply.The Russian miner will sell 38 million to 39 million caratsnext year, despite having more goods available in its...
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Mining
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Dec 23, 2018
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Leah Meirovich
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Report Links Leviev to Diamond-Smuggling Arrests
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Lev Leviev’s businesses are embroiled in allegations of a diamond-smuggling ring involving relatives and employees of the tycoon.Six people were arrested on Monday, including Leviev’s son and brother, after an undercover investigation, according to Israeli media.A staff...
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Financial-Legal
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Nov 05, 2018
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Rapaport News
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IDMA, WFDB Consider Joining Forces
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The International Diamond Manufacturers Association(IDMA) is considering an alliance with the World Federation of DiamondBourses (WFDB) in response to the crisis in the global cutting sector. “With the changes in the diamond-manufacturing sector’s landscape,as well as due to the...
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Manufacturing
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Nov 05, 2018
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Joshua Freedman
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Alrosa Joins De Beers Blockchain
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De Beers has signed up Alrosa to its blockchain pilot, bringingthe world’s two largest diamond producers together for the source-verificationproject. “We believe tracing requires industry cooperation andcomplementation for the sake of a common goal,” Alrosa...
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Technology
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Oct 29, 2018
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Rapaport News
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Diamond Resources Might Not Be Forever
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While it’s true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global...
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Mining
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Aug 14, 2018
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Leah Meirovich
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Alrosa Finds Diamond Shaped Like Soccer Ball
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Alrosa has unearthed a rough diamond bearing an uncannyresemblance to a soccer ball, and with flawless timing: bang in the middle ofthe World Cup taking place in Russia. The miner discovered the 0.50-carat stone at itsKarpinskaya-1 pipe...
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Mining
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Jul 08, 2018
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Rapaport News
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Alrosa Upbeat on 1Q Diamond Retail Market
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Diamond-jewelry sales grew 7% in the main retail marketsduring the first quarter amid strong consumer sentiment and beneficial fluctuationsin exchange rates, according to Alrosa.Revenues increased 5% year on year in the US and Canada, thelargest consumer market,...
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Retail
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Jun 24, 2018
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Rapaport News
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De Beers Opens Stores in Moscow and Riyadh
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De Beers has launchedthree new retail locations in Russia and Saudi Arabia for its De Beers DiamondJewellers chain. The company has openedone chain in Riyadh, its first Saudi Arabia location, at the Centria Mall, inpartnership...
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Retail
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Apr 11, 2018
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Rapaport News
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Large-Stone Demand Drives Alrosa Sales
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Alrosa’s sales leaped20% year on year in the first quarter, as demand for medium-sized and largerough diamonds strengthened. Total sales for thethree months ending March 31 rose to $1.61 billion, of which $1.58 billion wasfrom rough...
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Mining
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Apr 11, 2018
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Rapaport News
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Alrosa Results Climb in January
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Alrosa’s sales surged 38% to $504.5 million in January, as a strong holiday season boosted market sentiment. “We have seen good demand for the whole assortment of ourdiamond products,” Yury Okoemov, deputy CEO of Alrosa, said...
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Mining
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Feb 13, 2018
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Rapaport News
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Alrosa to Open India Office
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Alrosa plans to launch a representative office in Mumbai inMarch, appointing former Rio Tinto and Swarovski executive Jim Vimadalal tolead the operation. The base will focus on relationships with the Indian market,rather than engaging...
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Mining
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Jan 25, 2018
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Rapaport News
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Alrosa Rough Production to Fall in 2018
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Alrosa expects its rough-diamond production will decline about7% next year, with the Russian miner selling off inventory to maintain supply,it said last week. The company projected output of 36.6 million carats for2018,...
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Mining
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Dec 24, 2017
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Rapaport News
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Alrosa Makes Rare Foray into Generic Marketing
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Alrosa is attempting to engineer a Russian culture ofbuying engagement rings, after launching an advertising campaign promoting diamonds as an emotional symbol. The miner, which has traditionally focused on its corebusiness of extracting rough diamonds, is trying to capture the...
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Marketing
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Dec 20, 2017
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Joshua Freedman
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Alrosa Fails to Sell 51ct. Dynasty
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Alrosa withdrew the 51-carat Dynasty diamond from itsauction of a polished collection after realizing it would not fetch the pricethat the company had wanted.The Russian miner will now try to sell the stone at anotherauction,...
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Mining
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Dec 03, 2017
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Rapaport News
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Alrosa Fires Two Executives over Flood
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Alrosa has dismissed two senior executives after acommission identified safety failings that resulted in the Mir mine flood inAugust. The Russian company fired Mikhail Lopatinsky, director ofthe Mirny mining and processing...
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Mining
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Nov 20, 2017
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Rapaport News
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Mir Mine Flood Dents Alrosa Profit
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Alrosa’s profit slumped in the third quarter as a fatalflood at the Mir mine forced the Russian company to devalue the asset.Net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three...
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Mining
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Nov 19, 2017
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Rapaport News
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Authorities Release Causes of Fatal Alrosa Flood
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A commission analyzing causes of a fatal flood at Alrosa's Mir mine has identified 16 company officials whose errors led to the accident.Management of the Russian miner is now required to determinein what way each of the people was personally...
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Financial-Legal
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Nov 16, 2017
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Rapaport News
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