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Alrosa May Raise Diamond Trade Quota For Armenia

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  • Alrosa May Raise Diamond Trade Quota For Armenia

    ALROSA MAY RAISE DIAMOND TRADE QUOTA FOR ARMENIA

    Israel Diamond Portal
    http://www.israelidiamond.co.il/english/News.aspx?boneId=918&objid=9633
    Aug 3, 2011

    Alrosa's $30 million quota for diamond sales to Armenian businesses
    may be raised, according to a statement made to Armenian News.am by
    the head of the Domestic Market Regulation Department of the Armenian
    Ministry of Economy Gagik Kocharyan. Currently, four Armenian jewelry
    companies trade in rough diamonds with diamond-mining giant Alrosa.

    The department head said that the Ministry of Economy was in
    negotiations with Alrosa to increase the limit and the number of
    diamond companies permitted to buy from Alrosa. At present, Armenia
    has between 10 and 12 diamond companies. The country's jewelry industry
    in the first half of 2011 reached some $13 million.

    Armenia recently signed agreements with other raw material suppliers,
    including a memorandum of cooperation in the diamond industry signed
    in South Africa last year.

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