KRISTALL TO SUPPLY 6,000-7,000 CARATS OF ROUGH DIAMONDS TO ARMENIAN CUTTER
Tacy
Aug 18 2008
Israel
Kristall of Smolensk, Russia’s largest cut diamond producer,
will supply 6,000-7,000 carats of rough diamonds to Armenia by
the end of this year to be cut and polished, says Gagik Kocharian,
Head of Trade Policy and Domestic Market Regulation at the Armenian
Economics Ministry, referring to a deal signed with Diamond Company
of Armenia (DCA). The first consignment consists of 650 carats of
diamonds. Kocharian expects the new agreement to help revive the
Armenian jewelry industry.
Armenia has not received rough diamonds from Russia in recent years
due to the liberalization of rough diamond prices. Armenia used to
receive up to 6,000 carats under an annual quota agreed by the two
countries’ governments.
Kristall, whose turnover increased 13 percent to US$404 million last
year, agreed at the start of this year to have diamonds which cannot
be cut and polished economically in Russia processed by Armenian
cutting plants.