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De Beers were hated for this, but the Russian will probably get off scott free

Garry H (Cut Nut)

Super_Ideal_Rock
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"Alrosa has received approval to sell rough diamonds to Russia’s state depository, Gokhran, this year, enabling the miner to offload inventory should the market deteriorate."

This is exactly what De Beers did, and it drove the popular press and media into a frenzy.
Now that Alrosa mines more diamonds than De Beers - I wonder if the media will bother to pick the story up?
(on a separate note - The wish was met 9 months too late as now there is a shortage of rough and prices and demand are rising).
 

Karl_K

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meh kind of a non-issue at this point.
As cutters spool up they should be able to sell all they want on the regular market.
 

Ada Diamonds CEO

Rough_Rock
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Somewhat relatedly, my friends on 47th Street tell me that the quality of rough released by De Beers and Alrosa recently is remarkably poor quality.

Rumor is that they're pushing lower quality rough onto the market while prices are down and saving the better rough for when they can get more money for it.
 

Garry H (Cut Nut)

Super_Ideal_Rock
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Joined
Aug 15, 2000
Messages
15,962
Somewhat relatedly, my friends on 47th Street tell me that the quality of rough released by De Beers and Alrosa recently is remarkably poor quality.

Rumor is that they're pushing lower quality rough onto the market while prices are down and saving the better rough for when they can get more money for it.

Makes sense
 
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