ALROSA mulls extending trade on UAE diamond exchange

MOSCOW, Jun 14 (PRIME) -- CEO of Russian diamond producer Sergei Ivanov and Chairman of the Dubai Multi Commodities Centre (DMCC) Ahmed Bin Sulayem have agreed to extend cooperation in diamond trade, the company said in a statement on Wednesday.

“Dubai is one of the world’s leading diamond trading centers. In 2016 alone, ALROSA sold rough diamonds worth U.S. $259.5 million to companies-residents of the United Arab Emirates (UAE),” Ivanov said, as cited in the statement.

“ALROSA’s affiliate Arcos East DMCC has been successfully operating at the Dubai Diamond Exchange, and we are certainly interested in wider cooperation with our partners from DMCC.”

The officials also agreed to strengthen fight against undeclared synthetic diamonds.

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