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Diamond Sales Up
- By Unknown
- May. 21 1996 00:00
MOSCOW () -- Almazy Russia-Sakha, Russia's biggest diamond producer and the only exporter, saw its 1995 sales rise 6.5 percent to $1.3 billion, Itar-Tass quoted the company's president as saying Monday.
Vyacheslav Shtyrov said 1996 sales were likely to be the same as last year. Almazy's revenue from sales totalled 3.5 trillion rubles ($704 million) last year, he said.
The Russian government authorized Almazy to export rough diamonds and to sign a new treaty on rough diamond sales with South African diamond group De Beers.
De Beers and the Russian government signed a memorandum of understanding in February governing sales of Russian stones through De Beers' London-based Central Selling Organization, but the
document still has to be worked into a formal contract.
Vyacheslav Shtyrov said 1996 sales were likely to be the same as last year. Almazy's revenue from sales totalled 3.5 trillion rubles ($704 million) last year, he said.
The Russian government authorized Almazy to export rough diamonds and to sign a new treaty on rough diamond sales with South African diamond group De Beers.
De Beers and the Russian government signed a memorandum of understanding in February governing sales of Russian stones through De Beers' London-based Central Selling Organization, but the
document still has to be worked into a formal contract.
