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Russia, Armenia and South Africa to Set up Diamond Venture
RusData Dialine - BizEkon News
May 12, 2004 Wednesday
SOURCE: NOVYE IZVESTIA
Russia, Armenia and South Africa are negotiating to set up a
jointventure to mine and polish diamonds.
Russia, Armenia and South Africa are negotiating to set up a joint
venture to mine and cut diamonds.
The venture will offer the full range of services - from mining
proper through to the marketing of finished jewelry articles. Armenia
is sixth in the world in terms of diamond polishing. In 2003, its
cutting factories turned out about USD 250 million worth of polished
stones. Experts have recently been forecasting increased demand for
and rising prices of diamonds. In Russia, the first auction this
year to sell diamonds weighing from 10.8 carats up on the domestic
market, to be held May 18, has already received bids from 50 Russian
processing plants. Novye Izvestia recalls that Botswana tops the
world's diamond production league - 32% of all diamonds valued at
USD 2.3 billion. It is followed by Russia, with 22% of world output
worth USD 1.6 billion. Third is Canada, followed by South Africa and
Angola. Russia and South Africa are the main suppliers of gem-quality
diamonds.
RusData Dialine - BizEkon News
May 12, 2004 Wednesday
SOURCE: NOVYE IZVESTIA
Russia, Armenia and South Africa are negotiating to set up a
jointventure to mine and polish diamonds.
Russia, Armenia and South Africa are negotiating to set up a joint
venture to mine and cut diamonds.
The venture will offer the full range of services - from mining
proper through to the marketing of finished jewelry articles. Armenia
is sixth in the world in terms of diamond polishing. In 2003, its
cutting factories turned out about USD 250 million worth of polished
stones. Experts have recently been forecasting increased demand for
and rising prices of diamonds. In Russia, the first auction this
year to sell diamonds weighing from 10.8 carats up on the domestic
market, to be held May 18, has already received bids from 50 Russian
processing plants. Novye Izvestia recalls that Botswana tops the
world's diamond production league - 32% of all diamonds valued at
USD 2.3 billion. It is followed by Russia, with 22% of world output
worth USD 1.6 billion. Third is Canada, followed by South Africa and
Angola. Russia and South Africa are the main suppliers of gem-quality
diamonds.