Signatures under the memorandum put the president "ALROSA" (PJSC), Sergey Ivanov and chairman of GJEPC Pravinshankar Pandya. The document reflects the positive dynamics of bilateral cooperation between ALROSA and GJEPC and outlines the main directions of its development in the next three years. In particular, the parties agreed to support the work of the Special Customs Zone (Special Notified Zone, SNZ), created on the site of Mumbai Diamond Exchange in 2015 for the diamond trade, and initiatives to establish a preferential tax regime and increase ALROSA within the zone.
The parties have agreed to support measures aimed at legislative division of markets and natural and synthetic diamonds, as well as to inform Alrosa about offenders separate sale of stones identified in the Indian market. In addition, Alrosa and GJEPC shall exchange statistical information and to cooperate in the international industry organizations - the Association of producers of diamonds and the World Diamond Council.
"India is the world's largest producer of diamonds and one of our key trading partners. In 2016, rough diamonds worth $ 752.6 million were supplied only under direct contracts in India. We see great opportunities for expansion of trade in the country, including through special customs zone of Mumbai Diamond Exchange. I am sure that the long-term partnership with such a prestigious organization as the Export Promotion Council of precious stones and jewelry, will be important for the expansion of export opportunities ALROSA in India, the development of cooperation with local manufacturers », - said Sergei Ivanov.
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Rio Tinto Group reported that in the fourth quarter of 2015 of its diamond division of Rio Tinto Diamonds managed to produce 4.27 million carats against 2.84 million carats in the same period of the previous year. Thus, production increased almost 50%. Minerals in the fully owned by Argyle mine (Argyle) was 3.36 million carats (86% increase compared to the same period the previous year), and belonging to it at 60% Diavik mine (Diavik) - 0,9 million carats (reduction 3 % compared to the same period the previous year).
In 2015, Rio Tinto has produced 17.39 million carats against 13.87 million carats in 2014, an increase of this indicator was 25%. Extraction at Argyll, increasing by 47% compared with the previous year to 13.47 million carats, and Diavik fell by 11% to 3.84 million carats. As noted in the company's production growth in Argyll associated with an increase in production from the underground mine.
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