- Write by:
-
Thursday, April 28, 2022 - 14:46:13
-
797 Visit
-
Print
Mining News Pro - Russia may buy an as yet undetermined amount of rough diamonds from sanctions-hit producer Alrosa through its state precious metals and gems repository Gokhran, the country’s Finance Minister Anton Siluanov said on Wednesday.
The United States imposed sanctions on state-controlled Alrosa in April, complicating the Russian company’s operations in the global diamond market, with the aim of cutting off a source of revenue for Russia.
Sign Up for the Precious Metals Digest
“We do not rule out the possibility of Gokhran purchasing diamonds produced by Alrosa. The amount will be determined later,” Siluanov told reporters.
Gokhran is generally more focused on purchases of precious metals from Russian domestic producers than diamonds, he added.
Alrosa, the world’s largest producer of rough diamonds, was behind about 30% of global output in 2021 and competes with Anglo American unit De Beers.
Its sales, mainly to Belgium, India and the United Arab Emirates, totalled $4.2 billion in 2021.
Gokhran bought diamonds worth $1 billion from Alrosa during years of weak demand caused by the global financial crisis.
Short Link:
https://www.miningnews.ir/En/News/621169
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
French mining group Eramet said on Wednesday it had reached an agreement with the French government to continue its ...
Irish explorer Karelian Diamond Resources (AIM: KDR) said on Tuesday its search for precious stones in Finland has taken ...
A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another ...
An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is ...
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on ...
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on ...
The London Metal Exchange (LME) does not plan to launch a separate “green” nickel contract because the market is not ...
No comments have been posted yet ...