Archive

  • EU's 14th Sanctions Proposal: Pre-Sanction Inventory Out of Scope Russian Diamond Ban

    08/05/2024 13:26

    Reuters reports that in the EU's 14th Sanction Package proposal texts, currently being debated by EU members, clarification is given on so-called "grandfathered goods"; existing inventory of rough and polished diamonds that predate sanctions on Russian diamonds. The proposed text indicates that rough diamonds imported from Russia before January 1st 2024 and polished diamonds imported before March 1st (size 1ct up) and September 1st (0.50ct up) are not covered by the ban, addressing a concern that was raised by diamond industry stakeholders in the EU.

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    Finance and Trade

  • ALROSA Sales Yield $4.2 billion in 2021

    21/01/2022 09:44

    Russian diamond miner ALROSA reported the company’s diamond production equaled 32.4 million carats in 2021. They sold 45.5 million carats with proceeds equaling $4.2 billion, $4 billion from rough and $200 million from polished diamond sales. Gem-quality diamonds accounted for 67% of total sales. In 2021, revenue per carat for these gem-quality diamonds equaled $128, a year-on-year increase of 17%.

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    Market Analysis

  • Alrosa Optimistic About Mir Restoration and Additional Reserves

    12/01/2022 19:32

    Rough & Polished reports, based on a local TV interview with CEO Sergei Ivanov, that the company is optimistic about restoration of the Mir diamond mine, and is in the final stage of a feasibility study which will determine the course of action, to be decided by a review committee in H1 of 2022.

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    Mining and Exploration