ALROSA

ZAO ALROSA (), is Russia's largest diamond company. Alrosa is engaged in the exploration, mining, manufacture and sale of diamonds. The company's operations are located primarily in the Sakha Republic/Yakutsk region. Alrosa accounts for approximately 25% of the world's rough diamond supply and 97% of Russia's rough diamond production. The company's headquarters are in Mirny (Sakha Republic) and Moscow.

History

The company was set up according to Presidential Decree №158C of the President of Russia "On the Establishment of the Almazy Rossii-Sakha Joint Stock Company" signed on 19 February 1992, as the legal successor to the following entities:

• NPO Yakutalmaz, a former USSR state-owned diamond mining company;
• The diamond sorting and marketing divisions of the State Committee for Precious Metals and Gemstones of the Ministry of Finance of the Russian Federation;
• Various divisions of the Almazjuvelirexport Foreign Trade Association.

On March 28, 1998, Russian President Boris Yeltsin signed the Law On Precious Metals and Stones - a document of vital importance to Alrosa, according to the company's website.

On July 2007 Verkhne-Munskoye diamond field in Yakutia was discovered with estimated value of about $3.5 billion.

In August 2009 during the recent financial crisis, Russian Prime Minister Vladimir Putin announced the Russian government, via Gokhran, would buy $1 billion in uncut diamonds from Alrosa. This was to support the...
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