Moody’s Investors Service has changed the outlook to stable on the Ba3 corporate family rating of Alrosa Co Ltd. (“Alrosa” or “the company”) and Ba3 / LGD 4 (50) ratings on the senior unsecured guaranteed notes of Alrosa Finance S.A. The change in the outlook is driven by the improvement in the diamond market reflected [...]
JUDGMENT OF THE COURT (Grand Chamber) 29 June 2010 () (Appeals – Dominant position – Regulation (EC) No 1/2003 – World market in rough diamonds – Individual commitments by a company to cease purchasing rough diamonds from another company – Decision making a company’s individual commitments binding and terminating the proceedings) In Case C-441/07 P, [...]
The Court of Justice has set aside the judgment of the General Court and upholds the Commission’s decision making binding the commitments offered by De Beers to cease all purchases of rough diamonds from Alrosa. In adopting the decision, the Commission did not make an error of law or a manifest error of assessment or [...]
In connection with the difficult economic situation stemming from the crisis in the global diamond market, as well as a significant amount of capital investment in construction of underground mining, the Board of Russian diamond monopoly Alrosa has decided to propose to the company’s Supervisory Board to recommend to the shareholders’ meeting not to allocate [...]
ALROSA has signed three-year supply agreements with the Indian diamond manufacturers Rosy Blue, Diamond India Ltd. and Ratilal Becharlal & Sons for the amount of about US$490 million, in terms of the current market prices. The contracts provide that the range and prices of the rough goods to be supplied will be agreed upon by [...]
pOver the first two months of 2010, Russian diamond miner Alrosa has registered stable demand for rough allowing it to sell all of its mining production on the market. The company has sold over US$667 million worth of rough and polished diamonds in January and February 2010./p
Fitch Ratings has upgraded Russian diamond producer ALROSA Company Limited’s (ALROSA) Long-term foreign currency Issuer Default Rating (IDR) to ‘B+’ from ‘B’, removed it from Rating Watch Negative (RWN) and assigned a Stable Outlook. Fitch has also upgraded ALROSA’s senior unsecured rating to ‘B+’ from ‘B’ and removed it from RWN. ALROSA’s Short-term IDR is [...]
During a regular meeting of the ALROSA Executive Board in Udachny in Yakutia, chaired by President Fyodor Andreev, the executive board reviewed the unaudited production results and financials of the ALROSA mining and processing divisions for 2009. The technical and performance indicators of the processing plants and dredges meet all the target parameters. The aggregate [...]
There will be a public auction of special size rough diamonds weighing 10.8 carats or more at the Gokhran in Russia on March 16, 2010. In order to take part in the bidding, a company must submit an application in writing by February 26, 2010, and pay a deposit on 30,000 Russian Rubles.
Standard & Poor’s Ratings Services has reinstated its long-term corporate credit rating on Russian diamond miner ALROSA Co. Ltd. (Alrosa) at ‘B+’ and the short-term rating at ‘B’. Standard & Poor’s suspended the ratings on April 7, 2009. The outlook is positive. The reinstatement follows Standard & Poor’s receipt of sufficient financial and operating data [...]
The United Selling Organization of Russian diamond miner Alrosa (USO) has registered increasing demand for rough diamonds in the first weeks of 2010. In January the Alrosa Group expects the total proceeds from core product sales (i.e. sales of rough and polished diamonds) to amount to over US$300 million. If this positive demand dynamics holds, [...]
Fyodor Andreev, President of Russian diamond miner Alrosa, has instructed that the diamond giant’s existing corporate development strategy for the period of up to 2015 should be reviewed to take account of the market changes affecting the company’s business. The key objective of this work should be forming a goal-oriented model of the company’s long-term [...]