The diamond industry’s lexicon has dramatically changed during the past few years. Domestic beneficiation, added-value creation, and downstream developments in the producer countries are now the buzz words dominating the African producing countries. These words have also, albeit reluctantly and belatedly, been embraced by De Beers as a basis for its rough allocation policies. In contrast, the world’s second major producer, the Russian Federation, has gone amazingly silent on the subject. Russia’s former president and now prime minister, Vladimir Putin, has made it clear that he wants the federal government to absolutely control the Alrosa mining conglomerate – the position of government on beneficiation (manufacturing) seems unclear or, more correctly, ambiguous.
London, 11 September 2008: Solemn events dedicated to the 10th anniversary of collaboration between Smolensk Kristall Production Corporation and De Beers took place.
Smolensk Kristall Production Corporation will participate at the annual world jewellery exhibition «Yuvelir -2008» («Jeweller-2008»)
August 12, 2008, the delegation of Kristall Production Corporation under the direction of the Director General Maxim Shkadov met the prime minister of republic of Armenia Tigran Sarkisyan and the minister of finance of Armenia Nerses Eritsyan.
August 8, 2008, Kristall Production Corporation was visited by the transport minister of Russian federation, Co-chairman of the Russian-Armenian intergovernmental commission for economic co-operation Igor Levitin and the deputy chairman of the National Assembly of Republic of Armenia Gagik Abramyan.
In addition to the pressure of the new prices this month, next month Alrosa has said it will end its VAT deferred payment scheme, thereby increasing the upfront cash requirement on the part of the domestic cutters.
Alrosa's move to lift the domestic price of its rough has triggered increased imports from Antwerp, according to Russian diamond manufacturers.
On Thursday-Wednesday, May 22-23, festive arrangements were held in Smolensk, that are dedicated to Smolensk Kristall Production Corporation 45th anniversary.
Russia`s Maxim Shkadov was elected Vice President of the International Diamond Manufacturers Association (IDMA) on Wednesday during a closed session at the 33rd World Diamond Congress held in Shanghai. Maksim Shkadov is currently serving as Director General and Chief Executive Officer of Smolensk Kristall Production Corporation (Russia). He is appointed to this post for the second term.
Production value figures for diamond cutters in the Russian republic of Sakha (Yakutia) show that polished output grew in value by 16% over the year 2007 to total $180.37 million, according to a press announcement from the Sakha Ministry of Industry.
Overall 2007 sales of Smolensk Kristall on the international and domestic markets increased 13% to $404,4 million compared to $358,2 million in 2006.