Indian KGK group of companies, a world leader in the field of diamond cut, intended to create a new cutting and polishing plant near Vladivostok, which will create diamonds from ALROSA raw material. A total investment of $ 50 million.
KGK plans to hire up to 500 workers in the new facility and to open a training center for its employees to bounding the month to 9,000 carats.
Work on the new center will begin in July this year, and the plant construction with completion scheduled for the end of 2019.
Meanwhile, the Russian government has given investors the Indian Certificate of Residence recently created the Free Port of Vladivostok, which will provide them with tax and customs preferences and reduce transportation costs. This measure will promote diamond trade between the two countries.
KGK Group has branches in Moscow and the region of Yakutia diamond and views its new facility in Vladivostok as a base for expansion into the Asia-Pacific markets.
Indian companies have been the main buyers at the auction of natural diamonds of gem quality technical and Alrosa in the Eurasian diamond center in the Far East, held in March.
In 2017, ALROSA is planning to implement through the Far Eastern branch of the production of all product groups in the amount of $ 73 million in the amount of 2 million carats. In the next 3 months will be an auction of stones of large dimensions from 10.8 carats of industrial diamonds trading.
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Stellar Diamonds said that the company's losses for the fiscal year ended in June, dropped to £ 3.05 million against £ 4,1 million a year earlier.
Revenue for the year amounted to $ 614,000 on the background of the beginning of the trial mining kimberlite Baul (Baoule) in Guinea.
Company received for the year of $ 2.2 million for the completion of a preliminary economic assessment of the project Tongo (Tongo) and started test drilling on Baul.
This month, for similar purposes, the company received another $ 2.4 million.
"According to an independent economic assessment (mine Tongo), the project life cycle is 18 years, and capital expenditures -. $ 24.8 million is expected that due to the development of the mine company will be able to get high revenues and profits, - said General Director of Stellar Karl Smithson (Karl Smithson) -. on Baule we started trial production at the kimberlite pipe 5 hectares Processing of breed in our plant capacity of 100 tons per hour brought us 6,400 carats and $ 700 thousand in.. the framework of the last auction of diamonds held in May, we were able to achieve an average price per carat of $ 156. "
He said that some of the diamonds were sold for a higher amount. So, 10-carat fancy yellow stone was auctioned off for $ 6,800 per carat. This confirms the good potential of diamonds from Stellar Project.
Smithson also said that getting the production license and the necessary funding for Tonga, as well as the positive results of the work on the Baule, will help the company to get high returns, "which deserve the shareholders."
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