Reuters reported that Russia's Alrosa (MCX:ALNU) is planning a share sale for October or November of this year that could place the value of the business at up to $15 billion and raise "hundreds of millions of roubles" for local and national government owners.
A brief overview of diamond price developments, supply and demand and significant market movers.
Reuters reported that Russia is pushing ahead with the sale of its 14% stake in diamond miner Alrosa to raise $1B.
Colored diamonds may make flashy jewelry, but they are also a strong investment.
Polished prices have fallen and activity has slowed but rough diamond suppliers are resisting price reductions.
Bloomberg reported Suleiman Kerimov urged the government to offer 51 percent of diamond miner OAO Alrosa under its asset sale program.
Bloomberg reported OAO Alrosa’s Catoca diamond mine in Angola produced about 550,000 carats a month in the first quarter.
Bloomberg reported Russia's OAO Lukoil (LSE:LKOH) plans to invest $1 billion in a diamond mine challenging OAO Alrosa's monopoly.
Business Insider reported Jonathan Oppenheimer was obliged to accept a discount buyout from Anglo American (LSE:AAL).
Reuters Africa reported Alrosa (RTC:ALNU,MCX:ALRS) demonstrated notably improved financial results and credit metrics in 2011.
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