Alrosa Diamond Profits Double
Bloomberg reported OAO Alrosa said profit more than doubled last year after average prices for diamonds surged by 60 percent.
Articles Tagged "russia"
Kerimov Urges Sale of Alrosa
Bloomberg reported Suleiman Kerimov urged the government to offer 51 percent of diamond miner OAO Alrosa under its asset sale program.
Russian Oil Company to Invest $1 Billion in Diamond Mine
Bloomberg reported Russia's OAO Lukoil (LSE:LKOH) plans to invest $1 billion in a diamond mine challenging OAO Alrosa's monopoly.
Russian Diamond Market: Rich Kimberlite Deposits Brighten Prospects
IBTimes reported the diamond market is expected to reach $5.74 billion in 2015.
Anreyev Fails in Alrosa Bid
Business Insider reported Alrosa (MCX:ALRS,RTC:ALNU) has suffered a setback in selling up to 20% of shares.
Indian Bid for Alrosa Shares Spurned
Business Insider reported there is no negotiation under way and no agreement between Alrosa (RTC:ALNU) and MMTC (BOM:513377).
MMTC to Buy Stake in Russian Conglomerate Alrosa
Mineweb reported India's MMTC (BOM:5133770) is eyeing a stake in Russia's Alrosa (RTC:ALNU).
Russia May Cut Stake in Diamond Miner Alrosa to 50%
Bloomberg reports that Russia’s Finance Ministry may cut it's share in OAO Alrosa (RTC:ALNU) to 50 percent in three years.
Blood Diamond Trade Resuming in Zimbabwe?
The controversial ban on Zimbabwe’s exporting of “blood” diamonds is over, according to Deputy Mines Minister Gift Chimanikire, who insists the country has been given written permission to hold two diamond auctions this year by the Kimberley Process (KP), an international body set up to monitor the distribution of conflict minerals. Members of the international diamond trading community and human rights groups have responded to this claim with confusion because as of today, KP spokespersons are denying that any such permission has been given. “No decision has been made yet,” said the new KP chairperson Yamba Mathieu Lapfa Lambang of the Democratic Republic of the Congo, which took over the role as chair of the conflict diamond watchdog organization from Israel on January 1, 2011.
Diamond Companies Globally Face Tax Code Changes
As the diamond market slowly returns to pre-crash levels companies looking to increase profitability are calling upon their countries to change tax codes to be more favorable to the diamond market. Other countries that are looking to capitalize on mineral wealth are imposing new tax regulations on mining operations to benefit their nations.
