Alrosa to sell rough diamonds in Israel

The company’s first delivery to Israel, worth $3-4 million, has arrived.

The first delivery of rough diamonds from Alrosa, the Russian government diamond company, has arrived in Israel. Alrosa is the world’s second largest diamond company after De Beers. Israel’s diamond industry believes that will be the beginning of widespread activity by Alrosa in Israel. Alrosa originally promised to begin activity in Israel last year, but the plan was delayed because of diplomatic tensions between Israel and Russia because of the second Lebanon war.

Alrosa's representative in Israel Alexei Ivanov recently told the Israel Diamond Manufacturers Association (IsDMA) that the first delivery of rough diamonds ranging in size from three grams to three karats, worth $3-4 million, would arrive in Israel. He said sales would be made through Alrosa’s list of buyers, but that other Israeli diamond merchants could contact the company’s office in Israel, which would consider their participation in the sale.

Israel Diamond Exchange president Avi Paz said Alrosa would deliver rough diamonds to Israel once a month on a regular basis.

IsDMA president Moti Ganz said, “Three years of hard work has yielded results.”

Alrosa has launched activity in Israel after years of negotiations, which reached a peak during the 32nd World Diamond Congress in Israel in June 2006. Alrosa president Alexander Nichiporuk announced at the Congress that the company would open an office for rough diamond sales in Israel.

Published by Globes [online], Israel business news - www.globes.co.il - on January 15, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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