On May 17, Peter Karakchiev, ALROSA's Head of International Relations, was elected as RJC's Vice Chairman at its 2018 annual general meeting held in Moscow.
ALROSA Mining News
The global market for polished coloured diamonds is now dominated by Rio Tinto and Anglo American's De Beers. But state-controlled Alrosa aims to compete.
Alrosa has traditionally focused on rough-diamond mining but is gradually changing its business after Sergey Ivanov became CEO a year ago.
Russia's Kristall cuts around 300,000 carats annually and generates revenue of around $200 million.
The United Selling Organization (USO) of ALROSA sold 101 special size rough diamonds with the total weight of 1751.1 carats.
Alrosa's production fell by 17% in the first three months of the year mainly due to the halt of its Mir underground mine and lower-grade ores processed from the Jubilee pipe.
Alrosa's total diamond sales in the first quarter 2018 amounted to $1.606 billion, the company said.
The portable machine screens polished diamonds and jewellery, identifying synthetics as well as treated stones.
The average price of its gem-quality diamonds fell by 9% in 2017, it said, citing "changes in the product mix".
Total diamond reserves, taking into account the explored deposits under the National Reserves Committee standards, increased by 57.8 million carats during the year.
Paul Zimnisky, an independent diamond industry analyst, estimates supply will fall 3.4% to 147 million carats.
In January 2018, ALROSA recovered two gem-quality stones weighing 97.92 carats and 85.62 carats.
The Cullinan Mine is owned 74% by Petra Diamonds Limited and is renowned as the source of very rare blue diamonds and large, high quality gem diamonds.
The Russian state-controlled diamond miner increased fourth-quarter production by 6 percent year-on-year to 10.1 million carats as a shutdown at its Mir mine was offset by higher output at other assets.
Miner aims at selling around 40 million carats of diamonds in 2018 provided market conditions are favourable.
Deal provides the diamond giant with access to a production base outside Russia.
Russian miner said the price decline for rough diamonds was due to the changed sales assortment resulting from an increased demand for small-sized rough rocks from India.
The Russian company says more than twenty large rough diamonds over 50 carats have been extracted from its Jubilee pipe.
The other four other stones of the collection were sold at an average premium of 30%.
More than 130 potential buyers have already registered to participate in Wednesday’s online sale of the five-diamond collection, which includes the giant 51.4-carat Dynasty.
The large rough, gem-quality stones range from 82 to 163 carats.
Alrosa took stock of the international auction for special-size rough diamonds weighing 10.8 carats and more, held on the territory of the Eurasian Diamond Centre (The EDC) in Vladivostok.
With the newly unearthed 34.17-carat diamond, Alrosa has hit an annual record in the number of large fancy-coloured stones found at its operations.
Results will be announced on October 30.
There are plans to remove a total of 75,000 tons of ore from the new deposit before the end of the year.