IDEX Online, Israel

Armenia: Alrosa to Renew Rough Diamond Supply

(October 19, ’08, 7:40 Edahn Golan)

The Russian diamond miner Alrosa is to renew rough diamond supplies to
the Armenian polishing and jewelry making industry, according to Gagik
Abramyan, chair of the International Association of Armenian Jewelers.

Russian diamond producer Alrosa and the government of Armenia signed
in August 2007 a diamond polishing cooperation agreement. The
agreement was signed by Alrosa president Sergey Vybornov and Armenia’s
Trade and Economic Development Minister Nerses Yeritsian.

In December, a team of Alrosa experts has conducted a study of 20
diamond cutting enterprises and four were selected to receive rough
supplies. At the time Alrosa reported that it has already sold rough
diamonds to two of the diamond cutting factories.

Abramyan, an Armenian Parliament deputy, owns the Diamond Company of
Armenia (DCA).