ALROSA To Launch Trade in Investment-Grade Diamonds in 2018

Finance and Trade
14/11/2016 13:50

Russia's ALROSA, the world’s largest diamond miner by volume in carats and value, plans to launch retail trade in investment-grade diamonds in 2018, according to a plan ALROSA President Andrei Zharkov approved on Thursday. "The aim of the investment diamond selling project is to support Russia’s diamond manufacturing industry, as well as to create a market employing investment properties of diamonds," says Zharkov. Currently, ALROSA is completing procedures to systematize its internal document flow system comprising work and labor contracts for cutting diamonds and transition of diamonds within the company, as well as making necessary amendments to the company’s accounting policy. ALROSA started to prepare polished goods for exchange trade last October, including in particular their selection and identification. The project will be presented to general public in March 2017. ALROSA plans to start retail trading in investment diamonds in 2018.