Russia's Federal Security Service is investigating the world's top diamond producer in relation to assets sales dating back years.
ALROSA Mining News
Alrosa, the world’s largest diamond miner by output in carats, has held an auction to sell industrial grade and gem quality natural rough diamonds in the Eurasian Diamond Centre.
The Russian miner said profit attributable to shareholders totalled $2.25 billion (131.39bn roubles) last year, versus $530K (30.67bn) roubles in 2015.
The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.
The world's top diamond producer by output in carats fetched $358 million in rough gems and $7.28 million in polished rocks last month.
The company's total diamond sales last month amounted to $255.2 million, 63% higher than in November last year.
Rough gems sales totalled $430.8 million in October, slightly less than the $435 million fetched in September.
Rough-diamond prices fell 18% in 2015 and some miners, such as Alrosa, believe synthetic gems were partly responsible for it.
The Russian miner, the world's top diamond producer by output, said it has become imperative for the industry to find effective ways to defend the market from illegal substitutions by synthetic gems.
Net profit for the period, however, increased substantially — up 61% from a year ago to 40.5 billion roubles ($625 million).
PJSC ALROSA, the world leader in diamond mining, will participate in the Second Eastern Economic Forum on September 2-3, 2016, as its official partner.
The Responsible Jewellery Council is an international not-for-profit organization, which focuses on enhancing consumer confidence in the jewellery industry and promoting of responsible business practices.
Currently unnamed, the stone is one of the largest diamonds ever recovered at the Nyurbinskaya open-pit mine.
According to the Zimnisky Global Rough Diamond Price Index, rough diamond prices have climbed 8.9% in the last 3 months.
It measures 42.11 by 34.26 by 16.07 mm, and is translucent with a grey hue.
The sum obtained after selling 10.9% of the state-controlled diamond producer will be used to cut budget deficit, the government said.
Diamond giant will save Russian state millions each year when it takes over security duties at remote mines.
PJSC ALROSA, the world leader in diamond mining, has announced that it was authorized to establish a departmental security service to protect the Company's production facilities.
PJSC ALROSA has announced the appointment of Elena Gangalo as the Company Vice President.
The rock was found at its Nyurbinsky open-pit mine, in operations since 2001.
ALROSA, the world leader in diamond mining, will send over 2.5 thousand children of the Company's employees on vacation to Russia's health resorts during the summer holidays.
The Russian Direct Investment Fund is considering taking a part in the privatization of the country's diamond miner Alrosa.
The Russian government aims to make more than 60 billion roubles ($909 million) from selling a 10.9 percent stake in Alrosa, with the sale taking place on the Moscow Exchange this year.
The World Diamond Council brings together representatives of the entire international diamond industry supply chain, from mining through retail.
The miner, along with fellow Russian firms Rosneft, VTB Bank and Bashneft are among the most likely candidates for privatization this year.