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ARMENIA BUY 2% MORE DIAMONDS FROM ALROSA IN 2012
Interfax
Nov 16 2011
Russia
Diamond cutters in Armenia plan to buy $50 million in rough diamonds
from Russian miner Alrosa (RTS: ALRS) in 2012, compared to an
anticipated $40 million this year, Armenian Economics Minister Tigran
Davtian told reporters during a visit to two cutters.
Alrosa had delivered $39.16 million worth of diamonds to Armenia as
of November 1.
Davtian said that an agreement was reached with Alrosa in 2011 to
increase diamond supplies, which amounted to $25 million in 2010. The
list of Armenian cutting companies to which Russian diamonds are
shipped was also expanded, from one or two at the beginning of 2011
to 6-7 at present. The number of such firms will expand to ten by
the end of 2011, the minister said.
Russian rough diamonds make up more than half of Armenia's rough
diamond imports. Davtian said diversifying supply sources for the
stable and reliable operation of cutting factories was a priority
for the country's leadership.
In November, Armenia will participate in a conference in Africa that
will discuss the development of the diamond cutting industry. In the
course of the conference, Armenia hopes to reach agreements on new
sources of supply for rough diamonds.
Armenian cut diamond exports fell 24.7% to 217,000 carats in the first
half of 2011 from 288,000 carats a year earlier, the Customs Service
has reported. The customs value of cut diamond exports dropped to
$45.749 million from $50,381 million.
Interfax
Nov 16 2011
Russia
Diamond cutters in Armenia plan to buy $50 million in rough diamonds
from Russian miner Alrosa (RTS: ALRS) in 2012, compared to an
anticipated $40 million this year, Armenian Economics Minister Tigran
Davtian told reporters during a visit to two cutters.
Alrosa had delivered $39.16 million worth of diamonds to Armenia as
of November 1.
Davtian said that an agreement was reached with Alrosa in 2011 to
increase diamond supplies, which amounted to $25 million in 2010. The
list of Armenian cutting companies to which Russian diamonds are
shipped was also expanded, from one or two at the beginning of 2011
to 6-7 at present. The number of such firms will expand to ten by
the end of 2011, the minister said.
Russian rough diamonds make up more than half of Armenia's rough
diamond imports. Davtian said diversifying supply sources for the
stable and reliable operation of cutting factories was a priority
for the country's leadership.
In November, Armenia will participate in a conference in Africa that
will discuss the development of the diamond cutting industry. In the
course of the conference, Armenia hopes to reach agreements on new
sources of supply for rough diamonds.
Armenian cut diamond exports fell 24.7% to 217,000 carats in the first
half of 2011 from 288,000 carats a year earlier, the Customs Service
has reported. The customs value of cut diamond exports dropped to
$45.749 million from $50,381 million.