Archive

  • Russian diamond miner Alrosa, the world leader in diamond production, confirmed its status as a leader among gold and diamond mining companies in terms of investments in social programs, according to a study conducted by the PwC Advisory. The study, which is based on the official reports of companies who mine precious metals and rough diamonds, covers the period from 2016 to 2018 and focuses on key aspects of sustainable development, including investments in social programs and environmental protection me

  • An American court has granted Russian miner Alrosa's request for the discovery of documents from banks active in New York over alleged embezzlement of funds from its Angolan diamond mine Catoca, Africa Intelligence reports. As reported last May, Alrosa believes that the former and current management of Angolan diamond mine Catoca - in which Alrosa holds a 41% stake - is responsible for secreting away nearly $10 million, and called upon a U.S.

  • Russian diamond miner Alrosa has created a brand - Luminous Diamonds - to a promote a characteristic that is prevalent in their diamonds: fluorescence. In doing so, it is seeking to create a niche for its natural stones by marketing the added value fluorescence can bring to diamonds when seen in the proper light, so to speak.

  • Alrosa's Supervisory Board has voted to liquidate a subsidiary that controls two of its largest mines in a move to consolidate its core assets with the aim of improving their management efficiency. The Russian miner owns a 97.49% stake in Alrosa-Nyurba, with the remaining 2.51% of shares in the hands of minority shareholders. Presuming the liquidation goes through, those assets will be incorporated into Alrosa.

  • Russian diamond miner Alrosa sold $180.2 million in rough diamonds during the month of August, representing one if its lowest sales months in years as continuing headwinds - macroeconomic as well as industry-specific - conspired with a traditionally slow summer month to keep the market soft.

  • Russian diamond mining giant Alrosa will host its second annual True Colors auction of natural color diamonds in September at the Hong Kong Jewellery & Gem Fair from 16 to 20 September. The auction will last until September 23. 

  • Impacted by the persistent slump in the global rough diamond market, which has yet to show any signs of abating, Russian diamond giant Alrosa has reported a sharp decline in Q2 and first half 2019 profits and revenues, adjusting its anticipated sales for the year 2019 downward by 13-16% to 32-33 million carats from their anticipated 38 million carats, the miner announced on Monday. 

  • A 14.83-carat pink oval diamond, cut from a rare 27.85 carat clear pink rough diamond mined in 2017 by Russia’s Alrosa could earn more than $60 million when it goes up for sale in November. Named The Spirit of the Rose (“Le Spectre de la Rose”) as a tribute to a legendary short Russian ballet that premiered in 1911, the preparation and cutting process was performed at the “Diamonds ALROSA” cutting factory in Moscow, and it will be the most expensive stone ever polished in Russia.

  • The persistent slump in the global rough diamond market showed no signs of abating in July, as Alrosa's rough sales fell to a low not seen in several years. The Russian mining giant sold $164.6 million in rough diamonds in July, falling another 25% below 2019's previous low in June ($219.3), and 51% lower than the $333.8 million earned in July. 2018. For the year to date, Alrosa's sales have declined 34% compared to last year, falling to $1.95 billion from $2.97 billion a year ago.

  • Two members of Alrosa’s executive committee are leaving the Russian diamond miner: Deputy CEO Yury Okoemov, who has most recently supervised the work of Alrosa's diamond cutting complex, and Head of the Legal Department Alexander Matveev. The departures came about by mutual agreement, the company confirmed in a press release.

  • Russian diamond-mining giant Alrosa increased its rough-diamond output in Q2 and H1 2019, but the miner's sales have fallen to a low not seen since Alrosa started publishing monthly results in 2016 as rough and polished diamond market saw weak activity and very poor demand. Alrosa pointed to changing retail practices such as consolidation and increasing online sales as reasons for a reduction in polished diamond stocks across the retail sector. As businesses embrace more efficient stock management practices, cutters and polishers reduce the volumes of their rough diamond purchases. 

  • Alrosa, the world's largest diamond mining operation, and Zimbabwe's national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) have signed a joint venture agreement to develop diamond deposits in Zimbabwe. The Russian miner made certain to emphasize that its developmental work and any future mining activities would not take place in the troubled Marange region: "We would also like to note once again that ALROSA does not plan operations in Marange."

  • Russian diamond mining giant Alrosa has recovered one of the largest rough diamonds to date from the Zapolyarnaya pipe of its Verkhne-Munskoye deposit, which officially opened in the autumn of 2018. The stone is a gem-quality rough weighing 63.15 carats of an octahedral shape with small chips on the edges and tops. The diamond is transparent with a yellow hue, the miner adds.

  • The unrelenting slump in the global rough diamond market showed no signs of letting up in June, as Alrosa's rough sales fell to a low not seen since the miner started publishing monthly results in 2016. The Russian mining giant sold $219.3 million in rough diamonds in June, falling another 16% lower than 2019's previous low in May ($261.1 million), and 43% lower than the $383.7 million earned in June 2018.

  • Alrosa held a tender for polished diamonds in New York this June, earning $3 million from the sale of 20 polished diamonds with total weight of 140.4 carats for an average value of approximately $21,430 per carat. The diamonds on tender included 8 gemstones of standard color and 12 fancy colored polished diamonds, most of them with Fancy Yellow and Fancy Intense Yellow characteristics.

  • Russia diamond-mining giant Alrosa's shareholders at their Annual General Meeting decided to allocate 100% of free cash flow for the second half of 2018 to the period-end dividend – 30.3 billion rubles, or approximately $480 million. Taking into account the nearly $692 million (43.7 billion rubles) in dividends the company paid for the first half-year of 2018 (equaling $0.09 or RUB 5.93 per share), the total dividend for 2018 will amount a record $1.17 billion (RUB 73.9 billion) or $0.16 (RUB 10.04) per share.

  • Russian police uncovered around $3 million worth of stolen diamonds, and over $2.5 million in cash, at the homes of a criminal ring operating inside state-controlled diamond producer Alrosa, authorities said on Monday, reports Reuters. Alrosa confirmed that security services had uncovered an ongoing diamond theft ring in its sorting and grading department, with someone on the inside faciliating the larceny. The authorities detained a woman (Elena Kanunnikova), the Alrosa employee said to be in charge of the embezzlement, a mediator, and another man said to be responsible for sellin

  • Russian diamond miner Alrosa's rough diamond sales in May continued the downward trajectory they have been on all year, though the decline was less steep than in prior months. Rough diamond sales fell by 6% year over year to $261 million, and declined 17% compared to last month as the market enters its seasonal slowdown. For the year to date (Jan.-May), the mining giant's rough diamond sales have plummeted by 30% to $1.565 billion from $2.256 billion a year ago.

  • Alrosa recently held two international auctions for special size rough diamonds (larger than 10.8 carats), earning a combined $19 million from 221 stones weighing a total of 3,490 carats. At the first, which took place in Ramat Gan, Israel, the company sold 120 stones with total weight of 1,940 carats, earning revenue of $10.2 million, or$5,258 per carat. The auction included two large diamonds weighing more than 50 carats each.

  • Russian diamond miner Alrosa unveiled at JCK Las Vegas the latest contribution to the diamond tracking trend, creating a place-of-origin program that will provide consumers and traders with in-depth provenance information, complete with a personalized video. The company said it will soon launch a program in which an 'electronic passport' will accompany a diamond, providing information about the physical characteristics of the diamond as well as its age, the place and date of extraction, when and where it was cut, and the name and background of the craftsperson that fashioned the stone.

  • Russian diamond miner Alrosa believes that the former and current management of Angolan diamond mine Catoca - in which Alrosa holds a 41% stake - is responsible for secreting away nearly $10 million, and will call upon a U.S. court to obtain discovery of evidence.

  • Russia's Alrosa is the world's largest diamond miner by volume, yet the company has largely flown under the radar in the United States, the world's largest diamond market. Rebecca Foerster, head of the company's North American division, is on a mission to change that, and she says Alrosa's sustainability initatives are the key, according to Richard Feloni of Business Insider. Further, the company's transparent mine-to-retail value chain is an easy sell for American retailers seeking to assuage their customers' desire for responsible supply chains.

  • Russian diamond mining giant Alrosa reported significant improvements in revenue and profitability in Q1 2019 as compared to the previous quarter, with the caveat being that their 2019 financial results are lagging far behind the same period a year earlier (Q1 2018).

  • Russian diamond miner Alrosa was unable last month to follow up on their modestly encouraging rough-diamond sales from March, as the $316 million earned in April represents a 14% decline from March 2019 and a 20% decline from April 2018. Polished-diamond sales during the month did not fare any better, as Alrosa earned $2.9 million, a 64% decline from March ($8 million) and a 68% decline from April 2018 ($9.1 million).

  • Continuing its its non-core, non-diamond-related assets disposal program, from January to March, Alrosa disposed of RUB 1.24 bn ($19 million) of its non-core assets by selling, liquidating, transferring without consideration or exchanging them, the company has announced in a statement. The most significant transaction included the sale of a 100% stake in JSC Golubaya Volna Resort, which was sold in February at an open auction for RUB 1.21 bn ($18.5 million), almost RUB 70 ($1.07 million) above its book value.

  • Russian diamond miner Alrosa recently held two auctions of special-sized rough diamonds (+10.8 carats) in Vladivostok and Dubai, earning a total of $18.6 million from the two sales. The miner's haul from the Vladisvostok auction exceeded $9.65 million, with 29 companies from Belgium, India, Israel, the UAE, the USA, Hong Kong and Russia participating. A total of 150 diamonds with a total weight of 2,482 carats were up for sale, with 121 stones (2,030 carats) sold. Two especially large diamonds were sold, weighing 58.92 and 41.48 carats.

  • Russian diamond miner Alrosa unearthed a gem-quality stone weighing 118.91 carats on April 16th, the eve of the launch of Zarya - a new deposit of ALROSA at Aykhal Mining and Processing Plant. It is the largest gem-quality diamonds found at the ‘International’ pipe over the past two years. The mined crystal is one of the largest gem-quality diamonds extracted from the ground at the mine ‘International’ in recent years; a similar large gem-quality diamond (109.61 carats) was mined here in summer of 2017.

  • Russian diamond mining giant Alrosa has decided to further develop the Aikhal underground mine to 300 meters in depth, making it possible to replenish the raw material base and extend the mine life up to 2044. Implementation of the project to strip and mine the Aikhal pipe reserves at the levels of -100 meters/-400 meters will replenish the miner's reserves by almost 20 million carats and maintain the annual production level of 500,000 tons of ore up to 2044.

  • Alrosa's rough diamond production in Q1 2019 declined significantly from the same period in 2018, as did its sales, impacted by a sharp decline in prices and a larger share of small-size diamonds in the sales mix and lower prices mostly for medium-size diamonds.

  • Russian diamond mining giant Alrosa saw its March rough diamond sales gain 8% over its February results, as the market is gradually stabilizing, although it is still lagging far behind its rough sales a year ago. Alrosa sold $369.2 million in rough goods compared with $340.6 million last month and $278.2 million in January, saying demand for smaller-sized stones picked up during the quarter.

  • Russian diamond mining giant Alrosa and Angola's state-owned diamond firm Endiama have signed an agreement to develop joint projects including diamond production, exploration, training, research and technology exchange. It identifies areas of mutual interest to develop diamond production in Angola as well as cooperation on mechanisms in diamond sales. The companies also intend to work together on the development of industry self-regulation mechanisms and responsible diamond supply chains in support of the Kimberley Process.

  • Chinese mining company Anjin is set to resume mining in Zimbabwe at the Chiadzwa mining fields in Marange in May this year, while Russia’s Alrosa will complete setting up its office by the end of next month, reports The Sunday Mail from Zimbabwe. Anjin had to shut operations back in 2015 as the Mugabe administration forced the closure of seven mining companies and the subsequent merger of their assets into the Zimbabwe Consolidated Diamond Company (ZCDC). Now the company is expected to invest an initial US$20 million to restart operations. 

  • Global diamond jewelry sales grew 4% over last year to $85.9 billion in 2018, driven by persistently high demand in the first half of the year, according to Alrosa's global luxury and jewelry market research. The global jewelry market grew at a slightly slower pace than the 5% growth achieved in 2017, a softening the miner attributes to a slowdown in key consumption markets in the second half of 2018.

  • Following test drilling carried out earlier this month at the Verkhne-Munskoye diamond deposit located in the west of Yakutia, Russian diamond miner Alrosa has announced that it has the potential to "become one of the richest in large diamonds among Alrosa’s deposits." 

  • Russia's Alrosa has been exploring its options for the currently suspended Mir underground mine development, and has announced that it has worked out a decision-making concept regarding whether to restore Mir as an operating mine or move toward full closure of the mine. Should the miner decide the plan to reopen the Mir mine is economically viable and can be done safely, the earliest it might reopen would be 2030, and it could take even longer.

  • Russian diamond mining giant Alrosa has released it results for FY 2018, reporting a 6% increase in the value of diamonds sold to $4.4 billion, and a 9% rise in revenue despite an 8% decline in the volume of goods sold, totalling 38.1 million carats for the year. The miner attributes the increase in sales and revenue to stronger prices and improved mix of gem-quality diamonds. While Q4 diamond sales increased 34% q-o-q to 9.0 m carats, the main increase was from industrial quality diamonds, causing Q4 sales to decline 13% q-o-q (-7% y-o-y) to $824 million as large-size diamond sales fell.

  • Searching for a means to safeguard smooth transactions in the event it ends up having US sanctions imposed on it, Russia's Alrosa, the world’s largest producer of rough diamonds, has found a partner in its efforts to conduct trade in a currency other than the US dollar. Evgeny Agureev, Alrosa’s director of sales, told the South China Morning Post that it has enlisted one of its many Chinese customers - Chow Sang Sang Jewellery - on a long-term contract this year.

  • Russian diamond miner Alrosa sold $340.6 million worth of rough diamonds and diamond powder in February 2019. While such a result is very low for this time of the year - a 36% decline from last February, when the Alrosa sold $532.8 million - it is nonetheless a 22% improvement over the $278.2 million revenues achieved last month, which gives some hope that the polishing wheels are turning again. For the first two months of the year, Alrosa's rough sales are down 40% from 2018, falling to $618.8 million from $1.032 billion last year. 

  • Russian diamond mining giant Alrosa recently recovered a "unique" gem-quality rough diamond weighing 98.8 carats from the Zapolyarnaya kimberlite pipe, which is the part of the Verkhne-Munskoye diamond deposit.

  • ALROSA, the largest diamond mining company in the world, held international auction for special size rough diamonds (over 10.8 carats) in Dubai.  The overall revenue amounted to $8.3 million. The company sold 121 rough diamonds with total weight of 1,950 carats. Firms from UAE, India, Belgium, Israel, Hong Kong, Russia and the USA participated in the auction, and 31 firms were recognized as winners in different positions.