02 Aug 2007 - 12:00
Kristall of Smolensk, Russia’s state-owned diamond-polishing company, may see an increase in its rough supply, thanks to an initiative put forth by Victor Maslov, Head of Smolensk Region, at a recent Russian government session.
Maslov informed the Ministry that the Smolensk-based Kristall Production Corporation would boost its turnover to US$1 billion if its rough diamond supply from Alrosa would increase. Russian government representatives at the session reportedly supported the proposed initiative.
According to a company release, Russian First Deputy Prime Minister Sergei Ivanov, who visited the Kristall polishing factory in July, expressed his support for the increase in rough by emphasizing that Kristall’s “multiple areas of activity give grounds to believe that the company can easily increase its turnover to US$1.2 -1.4 billion.” He also mentioned the worldwide recognition that the “exceptionally high-quality Smolensk diamonds” have garnered.
The company release also said that Natural Resources Minister Yury Trutnev suggested strengthening the wording in the draft of the government decree from “examine the issue” to “take appropriate measures.” Russian Prime Minister Mikhail Fradkov also seconded the proposal.
by Diamond Intelligence Briefs