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ALROSA, DDC Sign Agreement
Jun 2, 2014 5:38 AM
By Deena Taylor
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RAPAPORT... ALROSA signed an agreement with the Diamond Dealers Club (DDC) of New York to promote the development of the diamond industry in both Russia and the U.S.
The agreement will see the parties exchange information to facilitate cooperation between the U.S. and Russian diamond sectors in such areas as polished diamond certification, new cutting and polishing technologies and initiatives to identify synthetic and treated diamonds. The memorandum's terms also included cooperation on World Diamond Council (WDC) issues.
The agreement was signed at an official ceremony in Las Vegas on May 30 by Reuven Kaufman, the president of the DDC, and Alexander Malinin, the director of ALROSA's cutting and polishing division Brillianty ALROSA.
”Cooperation between diamond market participants and industry organizations is important for the market transparency. Information exchange will help mining companies, diamond cutters and jewelry producers to get a deeper understanding of actual market trends, supply, demand and especially pricing," Malinin said. "Such cooperation can also provide guarantees of the origin of diamonds to jewelry customers and strengthen their confidence in the diamond market."
Additionally, the parties will aim to maintain separate sales of natural and synthetic diamonds and diamond jewelry, as well as fight against the unethical practice of mixing synthetics with natural diamonds.
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Tags:
Alrosa, DDC, Deena Taylor, Diamond Dealers Club
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