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Zharkov: Industry Efforts Must Stimulate Demand for Diamonds

Jun 16, 2015 9:25 AM   By ALROSA
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Press Release:  Andrey Zharkov, the president of ALROSA,  attended the 2015 presidents meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) held in Israel on June 16.

The summit discussed the current environment and outlook of the global diamond market. Israel's Prime Minister Benjamin Netanyahu hosted a delegation in the 2015 presidents meeting and held a session with the participants.

Speaking at the meeting, Zharkov focused on the need for joint efforts to stimulate consumer demand for diamonds, including thoroughly  promoting diamonds as an emotional symbol.

“The diamond trading centers play an important role in the development of our market. ALROSA will continue to foster close relations  with diamond centers and industry organizations to contribute to the sector development, information exchange and consumer confidence,” said Zharkov.

ALROSA also held a top-level meeting with the Israel Diamond Exchange (IDE) to discuss the implementation of memorandum of understanding, signed by the company and the IDE in February 2015. The document envisages information exchange on the identification and classification of diamonds, sorting and cutting technologies, identification of treated diamonds.

Israel is one of the key players in the global diamond market. In 2014, Israeli companies purchased ALROSA’s rough diamonds for a total of over $550 million. The WFDB and IDMA presidents meetings are traditionally held every other year to discuss major industry topics. The management of 30 diamond exchanges, 16 national members of IDMA, representatives of diamond majors, governmental and nongovernmental organizations take part in the meeting.

ALROSA is the world's largest producer of rough diamonds by volume. ALROSA is engaged in exploration, mining and sales of diamonds. The company's operations are located in the Republic of Sakha (Yakutia) and the Arkhangelsk Region of Russia. In 2014, the company produced 36.2 million carats of rough diamonds; 2014 revenue was $3.8 billion (RUB 207.2 billion).

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients. 

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Tags: Alrosa, andrey zharkov, diamonds, Israel, presidents meeting
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