Armenia buy 2% more diamonds from Alrosa in 2012
YEREVAN. Nov 16 (Interfax) - Diamond cutters in Armenia plan to buy $50 million in rough diamonds from Russian miner Alrosa in 2012, compared to an anticipated $40 million this year, Armenian Economics Minister Tigran Davtian told reporters during a visit to two cutters.
Alrosa had delivered $39.16 million worth of diamonds to Armenia as of November 1.
Davtian said that an agreement was reached with Alrosa in 2011 to increase diamond supplies, which amounted to $25 million in 2010. The list of Armenian cutting companies to which Russian diamonds are shipped was also expanded, from one or two at the beginning of 2011 to 6-7 at present. The number of such firms will expand to ten by the end of 2011, the minister said.
Russian rough diamonds make up more than half of Armenia's rough diamond imports. Davtian said diversifying supply sources for the stable and reliable operation of cutting factories was a priority for the country's leadership.
In November, Armenia will participate in a conference in Africa that will discuss the development of the diamond cutting industry. In the course of the conference, Armenia hopes to reach agreements on new sources of supply for rough diamonds.
Armenian cut diamond exports fell 24.7% to 217,000 carats in the first half of 2011 from 288,000 carats a year earlier, the Customs Service has reported. The customs value of cut diamond exports dropped to $45.749 million from $50,381 million.