Players debated current state and future prospects of the diamond industry.
ALROSA Mining News
Bourevestnik, Inc. has won the tender of OJSC MMC Norilsk Nickel for the supply of 5 X-ray slurry analyzers for Talnah concentrating mill.
The company has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.
The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.
It saw its rough diamond prices decrease by 3% in February and a further 3% at its May trading session, but the mienr expects market conditions to improve by the end of the year.
But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.
According to the company, the gem is estimated is worth more than $600,000 if put on auction.
Developing Mothae and Lemphane concurrently would allow Paragon to benefit from significant economies of scale, said Paragon Diamonds.
The miner also said that revenue from rough diamond sales was set to reach at least $1.1 billion, even though its first-quarter rough diamond prices dropped by 3%.
The miner owned an 84.66% stake in LLC MAK-Bank.
The parties agreed to exchange information on polished diamond identification and grading, joint research toward new technologies for diamond cutting and polishing.
The miner also said it aims to increase sales by 1% percent in 2015, taking advantage of rising production and using offtake from its stock.
Unearthed at Alrosa's Udachnaya diamond mine, it was later donated for study as the diamonds it contained were pretty much worthless as gems.
Russian diamond giant ALROSA and Indian Gem&Jewellery Export Promotion Council (GJEPC) co-organized the World Diamond Conference in New Dehli, India.
The miner hinted its 30-year partnership with the Indian diamond industry makes it the best fit to drive the sector’s growth in the country.
The Russian leader is expected to ink a long-sought deal with India during his visit to the country next week.
The miner's total diamond production for the quarter reached 9.7 million carats, slightly down from 9.9 million carats in the same period last year.
The kimberlite pipe is located at the Lomonosov deposit in northern Russia.
At the 2014 Hong Kong Gem & Jewellery Fair.
Vice-president becomes acting president.
The world's No.1 diamond company by output also said its diamond production dipped in the first half of 2014 by 7%, standing at 15.9 million carats.
Company's rough diamond prices proxy for opaque market.
The Udachny mine, in the country's northeast, is also expected to become one of the world’s biggest underground diamond operations.
But the world's No.1 diamond company by output saw a big jump in revenue: up 43% to $1.6 billion
While Russia can always sell its diamonds at other trading centres, Antwerp will likely be left scrambling to find a new source of the coveted gems.