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quantità record di gioielleria, provocando un boom economico per le aziende che commerciano, tagliano e producono diamanti.
HOW TO CONTINUE
TO PURCHASE RUSSIAN DIAMONDS
The American sanctions against Alrosa are causing chaos in the sector, leaving traders and producers in search of alternative solutions to continue to exploit one of the key world sources of gemstones. The buyers of the large commercial centres of Antwerp and Dubai and of the production Bourses in India, are trying to understand exactly the effects of the American sanctions against Russian diamonds and how they can continue to purchase. In the meantime, diamonds have stopped flowing from the Russian mines to Surat in India, a large world diamond cutting centre, because the Indian banks are unable to or do not want to process payments.
di Luigi Cosma
A delegation of Alrosa visited India at the beginning of April and has held meetings with clients and trading groups to discuss how to facilitate sales.
The interruption is already being felt in the diamond prices, as the cost of smaller stones, which are Alrosa’s speciality, began to increase in the last week. Alrosa is effectively controlled by the state: the federal government owns 33% and another 25% is held by local authorities. Losing the supply of Alrosa for a longer period would be a cataclysm for the diamond world: the company represents about one third of the global supply of rough stones, at the same level
of De Beers, which had the monopoly from the beginning of this century. Nevertheless, while western governments impose sanctions on Russia and companies withdraw from the country, many firms of the diamond sector in India still want to continue to purchase. And while the large American jewellery
companies Tiffany & Co. and Signet Jewelers Ltd have claimed that they will stop purchasing new diamonds extracted in Russia, the retailers operating in China, India and the Middle East have not followed suit. The meetings of Alrosa in India have examined the possibility of allowing Indian producers and traders to pay for Alrosa diamonds in rubles or rupees, without coming to an agreement. Any agreement will need the support of the Indian government, which has not been involved in the discussions: no comment by Alrosa. For Alrosa, an option could be that of selling its gems to the Russian government, as it did during the financial crisis of 2008;
no comment by the Russian Finance Minister.
The sanctions on Russian diamonds are also felt throughout the diamond sector, which was already tackling a shortage of rough stones even before the war in Ukraine. Indeed, the prices of rough diamonds have
increased in the last year as American consumers, by far the most important market, have purchased a record quantity of jewellery, causing an economic boom for companies that trade, cut and produce diamonds.
LA ORYX MINING STIPULA UN CONTRATTO DI ESTRAZIONE DEI DIAMANTI DALLA MINIERA OENA
Southstone Minerals Ltd ha annunciato che African Star Minerals Ltd (ASM), società controllata al 43% , ha stipulato un contratto di estrazione mineraria e recupero di diamanti con Oryx Mining (Pty) Ltd, presso la miniera di diamanti di Oena, in Sud Africa.
Oryx, a proprie spese, fornirà e manterrà tutti gli impianti e le attrezzature necessarie
per svolgere i servizi di estrazione. I diamanti estratti da Oryx saranno venduti tramite un tender designato in Sud Africa e l'80% del reddito lordo delle vendite nette dei diamanti, al netto
DIAMOND NEWS