De Beers & Alrosa 2002 Agreement
The new agreement between Russia's Alrosa and De Beers according to Russia's Finance Minister, Alexei Kudrin, will help maintain the stability of diamond prices and particularly the value of its state diamond reserves. The agreement stipulates that De Beers is obliged to buy nearly $4 billion worth of diamonds from Alrosa over the next five years, however, the Russian government will maintain its right to sell unlimited amounts from its own national reserves. Russia accounts for 22% of the world's rough diamond reserves. Alrosa hopes to increase its output to $2billion by the end of 2006, when this contract with De Beers expires.


Diamond Exhibition in Antwerp
Antwerp's Diamond High Council (HRD) will organize a diamond jewelry exhibition at the new diamond museum in Antwerp from October 10th through November 10th, 2002, entitled `Living Diamonds, Fauna and Flora in Diamond Jewelry until 1960'. Extensive discussions are underway with leading jewelers and private collectors including the State Hermitage Museum of St. Petersburg and Palacio Nacional da Ajuda in Lisbon. The Belgian Royal Household has indicated their support for the exhibition along with both famous auction houses Christie's and Sotheby's.
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Source: International Jeweler
March 2002 issue