Russian diamond mining giant Alrosa has suspended operations of its diamond polishing plants until the end of summer due to falling demand, CEO Sergei Ivanov said in an interview to RCB television channel broadcast on Wednesday. The miner also announced today (April 30) it is granting its rough diamond clients "maximum flexibility" for the May trading session and has not set an "obligatory buyout limit", adding that "deferred goods will be offered during future sales periods. Clients interested in purchasing rough are free to request and get the goods they need.”
Sergey Ivanov (37), the young CEO and Chairman of the Executive Committee of the world’s largest diamond miner, ALROSA, was in Antwerp for the company’s annual meeting with its 56 long-term clients. ALROSA is a traditional company in a traditional business, and still evokes the reputation of a state-owned giant despite the partial privatization (currently 34%) of the company a few years ago.
Alrosa’s President, Sergey Ivanov, has joined the board of the Diamond Producers Association (DPA), the Russian miner announced on Monday. Ivanov will replace the position vacated by the former Alrosa VP, Andrey Polyakov, before he left the company.
ALROSA President Sergey Ivanov and Executive Chairman of the Dubai Multi Commodities Centre (DMCC) Ahmed Bin Sulayem agreed upon enhancing cooperation in diamond trade, according to a press release from ALROSA distributed on Wednesday. At a working meeting in ALROSA’s headquarters in Moscow, Ivanov and Sulayem discussed options for expanding ALROSA’s trading activities at the Dubai Diamond Exchange, a trading platform within DMCC. The parties also agreed to step up fight against undeclared synthetic diamonds.
The 36-year-old son of one of Russian President Vladimir Putin’s close allies, Sergey Ivanov, acknowledges that some people may be skeptical about how he landed his latest job as CEO of the world's largest diamond mining company, write Bloomberg reporters Yuliya Fedorinova and Irina Reznik, but he is learning the trade and, "plans to win over investors by focusing on reducing costs at the state-controlled diamond producer." And his cost-cutting starts at the top, as Ivanov says he, "reduced my salary and overall compensation by 20 percent" and apparently declined certain benefits t
"Just last week, Yury Trutnev [Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District] held a meeting to support the Russian diamond-cutting industry, and a number of decisions were made that will help the Russian diamond-cutting industry to overcome the crisis and compete with foreign companies. The issue of developing Vladivostok on the basis of a free port was discussed at the meeting, and Vladivostok will develop as a diamond center.
The new chief executive of diamond miner ALROSA, Sergei Ivanov, said he would remain committed to the Russian state-controlled company's strategy, which has focused on mining, selling non-core assets and increasing production organically. Ivanov, who was officially elected to the top position at the diamond miner earlier this week, made the announcement on Thursday during a conference call to discuss the IFRS financial results for 2016.