Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

ALROSA contemplating a withdrawal from Angola's Catoca – report

17 october 2023

ALROSA is contemplating divesting its holdings in Sociedade Mineira de Catoca because of the deterrent effect of US sanctions imposed on Russian diamonds since March 2022, coupled with the weakening of diamond prices.

ALROSA holds a 41% stake in Catoca.

Endiama, a state-owned enterprise, possesses a 41% ownership interest in the mine, with Leviev International-LLI (China) holding the remaining 18%.

According to Africa Intelligence, ALROSA and Endiama are presently in negotiations over the former's departure.

It cited an unidentified source as saying that no agreement had been reached as of yet.

The report stated that US sanctions against the diamond company and a decline in international demand for diamonds both influenced ALROSA's decision to depart Catoca.

In addition to the prohibition on trading in US dollars imposed by US sanctions, ALROSA has been unable to transfer $185 million in dividends from Angola.

ALROSA, a significant contributor with a 27% share of the worldwide diamond industry, has been the principal diamond partner of Angola since the 1990s.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished