Russian diamond manufacturers speak out against sale of diamonds from Gokhran to India

06.04.2012: Rough & Polished, Russia's leading diamond industry online news service, reported that earlier this week, the Association

Rough & Polished, Russia's leading diamond industry online news service, reported that earlier this week, the Association of Diamond Manufacturers of Russia (ADMR) had sent a letter to the Indian Gems and Jewellery Export Promotion Council (GJEPC) expressing its indignation about a request made by Anand Sharma, India's Minister of Industry, to Elvira Nabiullina, Russia's Minister of Economic Development, to formalize a mechanism for the sale of diamonds to India by the Gokhran, Russia's State Depository for Precious Metals and Gems.


The Gokhran, a state institution that resorts under the Russian Ministry of Finance, is responsible for the sale of all rough diamonds produced in the Russian Federation.
 

"We understand whose interests are being lobbied by Minister Anand Sharma. We understand the pro-active stand of our colleagues, but, gentlemen, Russia also has its manufacturing industry and it is impossible to neglect its interests, it looks at least unethical," Rough & Polished quoted the letter signed by Maxim Shkadov, the CEO of Kristall, Russia's largest diamond manufacturer who is also the Chairman of the ADMR board. ADMR and GJEPC are both members of the International Diamond Manufacturers Association (IDMA).
 

In his letter, Shkadov argued that in accordance to Rusisan law, the Gokhran sells rough diamonds from its stock to Russian diamond manufacturers, as it aims to reduce the shortages in rough supplies to Russian diamond cutters. However, he emphasized that, as a rule, the amount of rought diamonds sold locally fails to meet demand, even that of ADMR's own members. Having said that, he asked his Indian counterparts: "Do you really offer to formalize a mechanism for the sale of diamonds to India under these circumstances?"
 

Rough & Polished quoted Shkadov continuing his criticism of the Indian minister's request: "Gentlemen, we understand your appetite, but at least have some conscience: Russia is not Zimbabwe and it works in a civilized market under civilized rules. It's quite enough to have Indian companies lined up to buy from ALROSA, which declare a desire to drive out all other customers from this company offering to pay 10% to 15% more.


Such moves lead to excessively inflated prices for rough diamonds making manufacturing economically inefficient since polished diamonds turn out to be cheaper than rough. And in this case the reason lies with speculation and not with processing costs, technology or marketing of finished goods as it is used to be within the practice of civilized market. Just remember what your similar actions brought about in 2008. I think, no one would like to have this situation repeated."
 

"We are ready to discuss any options for cooperation in an open mode to prevent any such backdoor activities in the future and we ask you to consider the above in your future endeavors," Rough & Polished quoted Shkadov's concluding words.
 

IDMA Secretary General Ronnie VanderLinden said that Shkadov's frank letter was a welcome fresh breath of air. "The leaders of both of these national diamond manufacturers associations know each other very well and therefore this frank and open letter is an argument held among friends.


 I am sure that ADMR's contentions will be taken very serious by GJEPC. As members of IDMA, they share a set of common values and interests that go beyond their own, more immediate goals, and that is, among others, the long-term sustenance of the international diamond manufacturing community at large," VanderLinden said.
 

 

About IDMA



 IDMA was founded and convened for the first time in 1946, in Antwerp. It is committed to fostering and promoting the highest ideals of honesty and best practice principles throughout the global diamond industry, as well as full compliance with all relevant national and international laws.


The organization has developed and adopted a Code of Conduct, which is binding on all 15 member associations. IDMA also works to encourage fair and honorable practices and decent working conditions for industry employees; and to preserve, protect and promote consumer trust and confidence in diamonds. It encourages and supports social responsibility by the industry in respect to all citizens of the world. 


The Association has played an active role in establishing the Kimberley Process Certification Scheme and is a co-founder of the World Diamond Council.

   
-Almor Ya'akov -

Permanent-URL: http://www.automobilsport.com/russian-diamond-manufacturers-against-sale-gokhran-to-india-rough-and-polished---98126.html

06.04.2012 / MaP

More News

Moscow Diamond Bourse organizes first Indo-Russian Diamond Summit
03.04.2012
...in Surat, India, April 3-5, 2012 The Moscow Diamond Bourse (MDB) and India's Gem and Jewellery Export Promotion Council (GJEPC) are organizing a first-of-its-kind networking meeting betw more >>
8th Annual Meeting of World Diamond Council in Vicenza
02.04.2012
The Minister of Natural Resource of the Republic of South Africa, Ms. Susan Shabangu, will deliver a keynote address to the Plenary Session of the 8th Annual Meeting of the World Diamond Council in Vicenza, Italy, on May 14. more >>
Messika Bijoux Un Moment d’Emotion pour l’éternité
29.03.2012
Messika Emotion : l’amour dans un écrin« Profusion de carats ou pierre unique, en chaque bijoux Messika, la femme doit trouver une réponse à son rêve de diamant. Valérie Messika préfère le sensuel au sexy, privilégie la grâce à l’apparat, mesure la force de ses créations &ag more >>
Serpenti de BULGARI
29.03.2012
Incarnation d’une histoire dense et icône absolue, les écailles précieuses de Serpenti  perpétuent avec intensité la légende Bulgari. more >>
Bulgari Papillon Voyageur : Haute Horlogerie série limitée
29.03.2012
Editée en série limitée à 99 exemplaires, cette création affiche un second fuseau horaire original et l’indication des minutes selon un système breveté. more >>
CIBJO President addresses United Nations-private sector gathering calls for collaboration
28.03.2012
.. between UN agencies and jewellery industry  CIBJO President Gaetano Cavalieri has addressed the United Nations' Private Sector Focal Points Meeting, which is being held today and tomorrow in Vienna, Austria. In his presentation, he expressed the commitment of the world jewellery industry to working together with the international body and its agencies, more >>
UN-affiliated Antwerp ITCCO to conduct high-level seminar in Vicenza
22.03.2012
...to consider KP compliance training and ethical jewelry certificationThe Antwerp ITCCO (International Training Center for Corporate Opportunities) will conduct a high-level seminar in Vicenza, Italy, on May 15, where representatives of the United Nations, the European Community, national governments and the Kimberley Process, as well as leaders from the diam more >>
GIRARD-PERREGAUX 1966 JEWELLERY
17.03.2012
LE TEMPS REVET SES PLUS BEAUX ATOURSUne robe d’or blanc ou rose, un visage mis en lumière par les diamants, un coeur dont les battements réguliers exaltent la more >>
The Private Diamond Club of Antwerp, Belgium - investing in diamonds
12.03.2012
AFTER GOLD, THE NEXT TEN YEARS WILL BE THE YEARS OF THE DIAMOND and OF INVESTMENT DIAMOND AS A SAFE INVESTMENT.•         If the last years were more >>
Russia's diamond industry looks forward to renewed growth
03.03.2012
Russia's diamond manufacturing industry is slowly but surely emerging from the severe crisis it experienced since 2009, when polished diamond production fell to an unprecedented low of US$350 million. According to a report submitted by the Russian Diamond Manufacturers Association (RDMA) to the International Diamond Manufacturers Association (IDMA), the Russian Federation's di more >>
Online registration opens for WDC's 8th Annual Meeting
23.02.2012
...to take place in Vicenza, Italy, May 13-14Online registration has begun for the 8th Annual Meeting of the World Diamond Council, which will take place May 13-14, 2012, in the northern more >>
MATTHIAS & CLAIRE Renaissance
22.02.2012
Matthias & Claire presents Renaissance. A watch that confirms the Swiss brand's ambition to combine the two arts of watchmaking and jewellery. This truly feminine timepiece magnificently complements the brand's jewelle more >>
REVUE THOMMEN Classical 82 Round
22.02.2012
Revue Thommen can pride itself on having produced over one hundred movements since 1853. In keeping with this proud tradition, its latest model, the Classical 82 Round, houses the brand’s GT 82 movement. more >>
CIBJO launches 2012 Congress website
16.02.2012
...invites participants to register online CIBJO has launched the official website for its 2012 congress, which will take place in Vicenza, Italy, May 17-20, 2012. Congress participants are invited to register online for the event, as we more >>
Madonna portait des boucles d’oreilles Bulgari
06.02.2012
Madonna à l’occasion de sa per more >>
BULGARI Serpenti
01.02.2012
The Serpenti by Bulgari has, for years, left its mark on the world of jewellery and watches. Time after time, this icon among wristwatches brilliantly reinvents itself. This new interpretation colours its scales with jet-black enam more >>
CARL F. BUCHERER Patravi TravelTec FourX
01.02.2012
A bold concept underlies the Patravi TravelTec FourX: 1 watch, 3 time zones, 4 materials. Already in 2006, Carl F. Bucherer proved itself capable of resolving this ambitious equation with a technical tour de force. more >>
LOUIS MOINET Treasures of the World Australian Opal
01.02.2012
The Louis Moinet world tour continues! Its new concept of unique “Treasures of the World” models now takes us to Australia. In association with Daniel Haas, world-famous specialist and artisa more >>
ETERNA Heritage Chronograph Limited Edition 1938
01.02.2012
Fans of legendary timepieces will welcome the return of the Chronograph Limited Edition 1938 by Eterna. Distinguished by the crisp right angles of its stainless steel case, its geometric minute display and the colour more >>
HANHART Pioneer Stealth 1882
01.02.2012
For its 130th anniversary, Hanhart presents the Pioneer Stealth 1882 in two versions, each a 130-piece limited series. This new timepiece is a worthy successor to the brand's legendary pilot's chronographs of the 1930s, but with techn more >>
Gucci Coupé
01.02.2012
Gucci Timepieces is pleased to introduce two new variants to the Gucci Coupé collection for men. With its rounded-square case and retro allure, the Gucci Coupé represents a new direction in Gucci watch design for men, delibe more >>
Visitors and exhibitors full of praise as third edition of Antwerp Diamond Trade Fair concludes
01.02.2012
Organisers of the third edition of the Antwerp Diamond Trade Fair (ADTF), which ended today, received praise from both visitors and exhibitors. The three-day show was the largest held so far, with some 350 exclusively invited buyers conducting business at the booth more >>
3rd Antwerp Diamond Trade Fair kick off
30.01.2012
Belgian bourses host buyers from across the globe   third edition of Antwerp Diamond Trade Fair  The Antwerp Diamond Bourse and the Diamond Club of Antwerp opened their doors on Sunday as the third edition of the Antwe more >>
Girard-Perregaux WW.TC
22.12.2011
UN NOUVEAU TITRE DANS LA SERIE DES ‘PATRIZZI POCKET EXPERT’, GIRARD-PERREGAUX WW.TCPassion. Le sentiment qu’exprime Osvaldo Patrizzi lorsqu’il parle de sa collection horlog&e more >>
Espeka USA and Christopher Designs purchase offices
14.12.2011
...at the International Gem Tower  Antwerp-based Espeka and New York diamond manufacturer Christopher Designs announced today that they are moving their New York headquarters to the International Gem Tower. The two firms join the elite group of domestic and international diamond, gem and jewelry companies more >>
Création de la « Andrea Bocelli Foundation »
12.12.2011
Gala de charité 2011En présence d’Andrea Bocelli et avec la participation exceptionnelle de David Foster, Heather Headley et Anna Maria MartinezLa more >>
Antwerp Diamond Trade Fair (ADTF) 2012
12.12.2011
Antwerp Diamond Trade Fair will be held from January 29-31, 2012. Welcome to Antwerp, the beating heart of the diamond tradeOn January 29th, when the doors of the Antwerp Diamond Trade Fair (ADTF) open, more than 200 specially invi more >>
Sir Richard Branson, the new BULOVA ACCUTRON Ambassador
09.06.2011
Embodying over a century of innovation and as the loyal guardian of the horological expertise of Bulova Corporation, the Swiss Made Bulova Accutron brand announced its association with Sir Richard Branson at Baselworld 2011. more >>
Daily Diamond Report gains industry support, facilitates sourcing
22.03.2011
VeriChannel, the search engine of the jewelry industry, announced today the participation of new DTC sightholders posting diamonds on its innovative Daily Diamond Report service.   The Daily more >>
Ari Epstein and Mark Jenkins join WDC Board of Directors
24.01.2011
The Board of Directors of the World Diamond Council accepted today two new directors into its ranks. They are Ari Epstein, CEO of the Antwerp World Diamond Centre (AWDC), and Mark Jenkins, Group Company Secretary of Signet Jewelers Limited.  Gathering for its first meeting in 2011, the WDC Board appointed Mr. Epstein to the seat vacated by Freddy J. Hanar more >>
WJCEF to conduct Corporate Social Responsibility seminar at VINCENZAORO First show on January 16
12.01.2011
The VINCENZAORO First jewellery trade show will host a high-level seminar about Corporate Social Responsibility in the jewellery industry, conducted by the World Jewellery Confederation Education Foundation (WJCEF).  The seminar will take place at 3:30 P.M. on Sunday, January 16, in the Palladio Room at the Fiera di Vicenza, in the Italian jewellery centr more >>
IGT Going Vertical in 2011
05.01.2011
Final Opportunity for Pre-construction PricingInternational Gem Tower will start to rise over 47th Street in early 2011. IGT executives will be visiting key industry centers and international trade shows with details on construction progress and final pre-construction pricing opportunities for office space in the 34-story tower in New York's Diamond Dist more >>
Visitors foster high strung expectations of Antwerp Diamond Fair ...
28.12.2010
...as exhibition expands to trading floor of world's oldest diamond bourseWhen on January 30, 2011, the second edition of the Antwerp Diamond Trade Fair will open its doors, for the first time visitors to the fair will get access to the trading floor of the world's oldest diamond exchange, the Diamantclub van Antwerpen (Diamond Club of Antwerp), which was foun more >>
2011 CIBJO Congress to take place in Porto, Portugal, in March 14-16
23.12.2010
CIBJO, the World Jewellery Confederation, has announced that its 2011 congress will be held March 14-16, in Porto, Portugal, at the historical Freixo Palace Hotel, on the banks of the Douro River. The Congress will be hosted by Associação de Ourivesaria e Relojoaria de Portugal - the Portuguese Jewellery and Watchmaking Association (AORP) - more >>
AWDC main sponsor of expanded Antwerp Diamond Trade Fair
20.12.2010
The Antwerp World Diamond Centre Diamond (AWDC), the coordinating body and official representative of the Antwerp diamond sector, has announced that it has taken on the role of mainsponsor and patron of the Antwerp Diamond Trade Fair, the second edition of which will open on January 30, 2011.    more >>
IDMA Treasurer discusses reshaping and challenges of diamond industry ...
02.12.2010
... at 2010 China Diamond Conference in ShanghaiStephane Fischler, Treasurer of the International Diamond Manufacturers Association (IDMA), the representative body of the world's diamond manufacturers, address more >>
The new Quartz Chronograph 3 by AC Schnitzer
26.11.2010
Timelessly Elegant TimepieceWhether you're counting miles per hour, laps in minutes or acceleration from zero to 100 in seconds: the relationship between speed and time is something special, and more >>
Zwei edle Carlsson-Uhren jetzt erhältlich- Die stilvolle Geschenkidee
17.11.2010
•    Elegantes Geschenk•    Limitiert auf 1000 Exemplare•    Chronograph „Racing“ oder Automatik-Uhr mit ETA-Werk•    Geschmeidiges Armband aus echtem Leder•    Chronograph für nur 179 Euro• more >>
IDMA: 'Implement KPCS Monitor's recommendations now"
14.07.2010
IDMA calls for immediate implementation of KP Monitor's recommendations, receives invitation to hold IDMA's 2011 Presidents' Meeting in Botswana   The International Diamond Manufacturers Association (IDMA) concluded its deliberations during the 34th World Diamond Congress, the biennial joint congress of IDMA and the World Federation of Diamond more >>
2001-2021 copyright automobilsport.com