By John Helmer in Moscow Sergei Vybornov, the chief executive of Alrosa since February 2007, is likely to be replaced, sources close to the company have told Polished prices.com. An announcement is expected to be made before the annual general meeting of Alrosa shareholders, scheduled for three weeks’ time, on June 20. Vybornov’s spokesman has […]

by John Helmer - Friday, May 29th, 2009
No Comments »

By John Helmer in Moscow A meeting of Alrosa management board, followed by the board of directors, last week decided to modify earlier estimates of this year’s mine production plan, but slashed this year’s target profit figure. This is the first official indication of how effective the state purchasing scheme for Alrosa diamonds is proving […]

by John Helmer - Tuesday, May 19th, 2009
No Comments »

By John Helmer in Moscow If the senior management of Alrosa, the world’s number-2 diamond miner, mounted the review platform above Lenin’s tomb in Red Square, and stood in line for a two-hour military review, the goings-on inside the corporate executive suite wouldn’t be any clearer. But the body language might signal whether the company’s […]

by John Helmer - Monday, April 13th, 2009
No Comments »

By John Helmer in Moscow For weeks, Alrosa, Russia’s diamond mining challenger to De Beers, has been waiting for the appearance of a miracle to keep the mines producing at last year’s volumes, and avoid layoffs and financial damage to the fareastern region of Sakha, where Alrosa is the chief income generator. That miracle is […]

by John Helmer - Thursday, March 26th, 2009
No Comments »

By John Helmer in Moscow Despite a blackout of news from Archangel Diamond Corporation (AAD:CN), the Canadian mining junior will seek US court orders to oblige two key Russian executives to give testimony on oath in ADC’s claim that it has been unlawfully deprived of its stake in the multi-billion dollar Grib diamond pipe, in […]

by John Helmer - Wednesday, March 11th, 2009
No Comments »

By John Helmer in Moscow Sergei Vybornov, the chief executive officer of Alrosa for the past two years, is mobilizing federal government and industry support in Moscow to oppose a bid by Sakha President, Vyacheslav Shtirov, to replace him, and take over the top post at Alrosa. Shtirov made his bid at a meeting with […]

by John Helmer - Tuesday, March 3rd, 2009
No Comments »

By John Helmer in Moscow Among the hard-pressed global diamond miners, only one, Russia’s Alrosa, has the capacity to sustain last year’s mining volumes without adding to the inventory overhang, or flooding the market, both of which will crush the price. This is because the Russian state stockpile agency Gokhran is ready to spend state […]

by John Helmer - Thursday, February 19th, 2009
No Comments »

By John Helmer in Moscow Alrosa is negotiating with Lazare Kaplan International (LKI) to decide whether to renew their expiring rough supply and polishing contract, or wind up their relationship. The talks and the details of the longstanding relationship between the two companies remain shrouded in unusual secrecy. Alrosa sources say it is not certain […]

by John Helmer - Tuesday, February 17th, 2009
No Comments »

By John Helmer in Moscow Jonathan Oppenheimer, the embattled heir to Nicky Oppenheimer and to the struggling De Beers group, and Vagit Alekperov, chief executive and controlling shareholder of LUKoil, one of Russia’s leading oil producers, have started fighting again over the disputed Grib pipe; also known as the Verkhotina project in the northwestern Russian […]

by John Helmer - Thursday, January 29th, 2009
No Comments »

By John Helmer in Moscow With a 17-line announcement the Toronto-listed Archangel Diamond Corporation (ADC), a De Beers-affiliated company, has cancelled its agreement to mine diamonds in the Arkhangelsk region of northwestern Russia. Almost twenty years of exploration and mining effort, including the first major diamond discovery in western Russia for a century, have been […]

by John Helmer - Thursday, January 15th, 2009
No Comments »