Tuesday, June 13, 2017

The government is discussing the possibility of early withdrawal of the diamond ALROSA President: Andrew Zharkov, head of the company since April 2015, may change the son of the former head of presidential administration Sergei Ivanov, Vice-President of Sberbank Sergei Ivanov, Jr., Bloomberg reported, citing sources. Information sources confirmed "Kommersant" in the government and a source close to shareholders (in the Federal Property Management Agency and Yakutia to 33%) and the Ministry of Finance.

According to Andrei Zharkov on a number of strategic issues at variance with the views of the officials holding the majority of seats on the Supervisory Board of ALROSA, Bloomberg writes. One of the sources of "Kommersant" says that the differences arose on the sale of Federal Property Management Agency controlling stake in OJSC "Diamond World" (until recently, the only one in the RF range of custom diamond processing), where ALROSA more than 47%, as well as the approval of the company's budget for 2017 year: Ministry of Finance insisted on its reduction, but Mr. Zharkov was against it. Other interlocutors "Kommersant" said that the head of the Alrosa had a difficult relationship with the officials, except for the company in charge of Deputy Prime Minister Yuri Trutnev, who put forward Andrei Zharkov to the post in 2015. Deputy Prime Minister insisted on the development of cutting and polishing business ALROSA, which is opposed by the former head of Fyodor Andreev (died in January 2015). Andrey Zharkov, together with the customs broker TBSS opened in 2016 Eurasian Diamond Center in Vladivostok, was unhappy than Yakutia (there is expected that the project will be implemented in the country), says one of the "Kommersant" interviewees.
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1 comment:

Pearl Necklace said...


It is reported that sightholders De Beers postponed the purchase of 50% of diamonds, which were offered for sale on the October website of the company.
Rapaport reports that diamond sales on the last site fell to $ 200 million. The
sightholders refused to purchase stones against the background of continuing difficult market conditions.
"The mood is worse than in the last few sites I attended," said Guy Harari, head of Bluedax, whose words lead the news portal: "It's not just a matter of price." There are no more buyers for diamonds, demand is very limited " .
Rapaport reports that the sightholders were not surprised that De Beers maintained stable prices for its diamonds in October, although the company is struggling to profit from the mining of stones.
" The market is no longer worried about prices.
Now the main difficulty is the lack of buyers for diamonds, and this causes great concern, "said an unnamed siteholder from Antwerp. " We must wait and hope that at the end of the year sales will be strong, and Chinese buyers will return to the market, although now it is Seems unlikely. At the moment there are enough stocks in the market, and traders are not inclined to buy