Industry News by Nemesis

Alrosa in Talks to Raise Dubai Rough Sales

June 17, 2017

Alrosa has agreed to work more closely with Dubai to expand the Russian miner’s business in the emirate’s trading center.

Recently appointed Alrosa president Sergey Ivanov and Ahmed Bin Sulayem, executive chairman of the Dubai Multi Commodities Centre (DMCC), discussed options for increasing the rough producer’s trading activities at the Dubai Diamond Exchange, a platform within the DMCC. The organizations also agreed to step up their fight against undisclosed synthetics, Alrosa said Wednesday following the executives’ meeting in Moscow. 

“Dubai is one of the world’s leading diamond trading centers,” Ivanov said, pointing out that the miner’s rough sales to companies based in the United Arab Emirates totaled $259.5 million last year. 

“Alrosa’s affiliate Arcos East DMCC has been successfully operating at the Dubai Diamond Exchange, and we are certainly interested in wider cooperation with our partners from DMCC,” he added.

 

Source: Rapaport

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