Price Bubble In The Offing?
Though there are clear signs of a financial recovery around the world, at what price would there be a recovery for roughs? Is the `new-normal' daunting for the diamond industry?
Articles Tagged "russia"
Putin Vowed $1 bln Support for Russian Diamond Miners
Russian Prime Minister Vladmir Putin pledged on Friday $1 billion in state support for diamond miner Alrosa to help it ride out a steep global dip in demand for gemstones. For full story, click here
Diamond Giant Alrosa has planned $2 bln in Diamond Sales in 2009
Diamond Giant Alrosa intends to sell $2 billion worth of diamonds in 2009, as per the new president of Russia’s biggest diamond producer, Fyodor Andryev. For full story, click here
Gokhran will purchase $384 diamonds from Alrosa
Russia’s State Precious Metals and Gemstones repository will purchase approximately $383.8 million worth of rough diamonds from ALROSA in 2009, Interfax declared citing an unnamed Gokhran official. For full story, click here
Gokhran nearly quadruples diamond purchasing budget
Russia’s State Precious Metals and Gemstones Repository has earmarked $467.23 million to purchase diamonds from producers in 2009, according to Interfax. For full story, click here
Russia diamond monopoly may avoid market floods
Russia will avoid flooding the world diamond market, as it did in the 1990s, with the stocks it has been building up since demand slumped last year. Chief Executive Officer Sergei Vybornov stated: The situation is completely different and the mentality changed a lot. For full story, click here
Alrosa is renewing diamond sales
According to President Sergey Vybornov, Russian diamond miner Alrosa will resume rough diamond sales this month. Alrosa, which holds a monopoly on exporting Russia’s diamonds has stopped selling diamonds to its clients due to the economic slump. Instead, the mined goods were sold to the state repository Gokhran. For full story, click here
Alrosa reported cut in diamond output plans by 20 per cent
Russia’s Alrosa, the world’s second-largest diamond producer, on Friday announced that it has cut its 2009 production plans by a fifth as the global financial slump dents demand for the gems. For full story, click here
Diamond industry warns of drastic change
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
Russia’s diamonds up for grabs
Russian diamond mines have long been the object of a tug-of-war between federal government interests in Moscow and the far eastern region of Sakha (Yakutia). For full story, click here
