AGD Diamonds Enters International Diamond Market

Mumbai: JSC Arkhangelskgeoldobycha was officially renamed ‘JSC AGD DIAMONDS’ recently due to its new marketing policy and the brand’s international positioning aimed at its customers, the buyers of rough diamonds.

During the month of June, the company produced 234,000 tons of ore at the Grib Diamond Field and raked in more than $46 million from rough sales.

According to Sergey Neruchev, CEO of AGD, the acquisition of a 100% stake in Grib Diamonds N. V., operating in Antwerp and selling rough produced at the Grib Diamond Field on international markets is a highly important milestone for the company, opening up a number of additional opportunities.

“The consolidation of the AGD production business with the Grib DIAMONDS trading company will create a full-cycle diamond mining company of international standing, comprising geological exploration, production and sales in the long run,” Sergy added.