U.S. court no to Kensington Gold Tailings project

Greens see red over lake water pollution

Post By : Diamond World News Service On 28 August 2006 12:00 AM
"The new commitments, which are addressed to De Beers only (and not to ALROSA), differ from the joint commitments previously offered by Alrosa and De Beers and market tested by the Commission in June 2005, especially insofar as the new commitments prohibit the purchase of diamonds by De Beers from Alrosa after 2008. The June 2005 commitments would have allowed Alrosa to continue to supply up to US$275 million per annum to De Beers after a gradual phase down of supplies between the parties."
"Given this difference and the way in which it came about, Alrosa will review all its options after it has had an opportunity to study the full text of the European Commissions decision," the statement said. Earlier in the week, Alrosa had been lobbying for a modest continuation of its diamond trade with De Beers Diamond Trading Company (DTC). The ECs refusal to countenance anything but zero trade between the worlds two great diamond producers was termed "ideological" and "fundamentalist" by a source close to the Brussels negotiations over the three-year course of the review.
European Commission (EC) in Brussels ignored a proposal offered by the Russian company Alrosa, Russias dominant diamond miner and world second largest diamond producer, on February 23, 2006. In a statement, following the ECs announcement, Alrosa said: "Alrosa has read the European Commissions press release today regarding the Commissions decision to accept De Beers commitment to reduce the quantity of Alrosas rough diamonds that De Beers may purchase until the end of 2008, and to stop purchasing Alrosas rough diamonds, directly or indirectly, from 2009 onwards.”

Be the first to comment

Leave a comment

Email Alerts

WhatsApp Alerts