Alrosa Eyes New York Relaunch

RAPAPORT… Alrosa is planning to recommence operations at its New York
trading office, which has been effectively out of action since 2016.

The Russian miner is considering a number of candidates for the
position of head of Arcos USA, its New York operation. The company expects the unit to be active again late this year or early next, it said in a
recent statement.

“The US is the world’s largest diamond-jewelry consumption
market,” said Alrosa president Sergey Ivanov. “There is no doubt that Alrosa is
interested in the presence and development of cooperation in this market, not
only within rough-diamond sales, but also within the trade in polished diamonds.”

One of the competitive advantages it can offer is the
ability to meet modern consumers’ desire to know the origin of the diamonds
they buy, Ivanov added.

The issue of Alrosa’s New York relaunch was on the agenda at
a meeting the executive held last week with Ronnie VanderLinden, president of
the US Jewelry Council, and Reuven Kaufman, president of the Diamond Dealers
Club of New York.