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ROUGH DIAMOND CONUNDRUM RESOLVED BETWEEN RUSSIA AND ARMENIA
Rachel Lieberman
Israel Diamond Portal
June 5 2008
Israel
AFNS reports that Armenian Economy Minister Nerses Yeritsyan stated
that diamond mining giant Alrosa has begun cash sales of rough diamonds
to Armenian polishing plants.
As reported on the Portal on June 1, the agreement signed last year,
according to which Alrosa was to supply rough diamonds weighing 0.3
to 1.5 carats, was not implemented until now because Russia insisted
that the diamonds polished in Armenia be returned to Alrosa for
re-export. Armenia was left with rough diamonds imported from Belgium
and Israel, along with small quantities from African countries.
The Armenians have the facilities to cut 1 million carats of diamonds
annually, and in the past polished exports worth up to $250 million
were produced per annum.
The Armenian Diamond Manufacturers Association, ADMJA, was recently
admitted to the ranks of the International Diamond Manufacturers
Association (IDMA).
Rachel Lieberman
Israel Diamond Portal
June 5 2008
Israel
AFNS reports that Armenian Economy Minister Nerses Yeritsyan stated
that diamond mining giant Alrosa has begun cash sales of rough diamonds
to Armenian polishing plants.
As reported on the Portal on June 1, the agreement signed last year,
according to which Alrosa was to supply rough diamonds weighing 0.3
to 1.5 carats, was not implemented until now because Russia insisted
that the diamonds polished in Armenia be returned to Alrosa for
re-export. Armenia was left with rough diamonds imported from Belgium
and Israel, along with small quantities from African countries.
The Armenians have the facilities to cut 1 million carats of diamonds
annually, and in the past polished exports worth up to $250 million
were produced per annum.
The Armenian Diamond Manufacturers Association, ADMJA, was recently
admitted to the ranks of the International Diamond Manufacturers
Association (IDMA).