Alrosa Plans Diamond Bourse for Far East

Moscow: Alrosa, the largest diamond producer in the world in terms of volume, will soon come up with a proposal to establish a diamond bourse in the Far East.

The draft with specific terms on the creation of a trading platform will be proposed for approval by the Deputy Prime Minister Yuri Trutnev and Finance Minister Anton Siluanov, according to the head of ALROSA Andrei Zharkov on the sidelines of the International Jewelry Forum in Moscow.

According to Zharkov, ALROSA is considering the investment instruments based on diamond trading. “The company is considering the possibility of organizing a trading platform for rough and polished diamonds in the Far East,” – he said.

“We are actively pursuing this issue. In the near future we will come up with a concrete proposal to the Deputy Prime Minister and Chairman of the Supervisory Board, who supervise our project. The proposal would specify terms of development of this trading floor. Now the whole issue is dealing with public infrastructure, it is necessary to work out the details. The new trading platform won’t work out without these”, – said Zharkov.

In early September, Trutnev said that the Diamond Exchange in the Far East can be created in 2016.

Regarding the diamond cutting business, Zharkov said that ALROSA is studying the successful experience of other countries, which would allow bringing the industry to a higher level of efficiency.

“In particular, we consider improving the efficiency of our own cutting and polishing. We are working on a project to manufacture colored diamonds which is to bring in high margins”- said Zharkov, adding that ALROSA is a diamond produces, and jewelery manufacturers are usually its clients.