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Tag: Leah Meirovich

USA puts Alrosa manufacturer Kristall on sanctions list

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USA puts Alrosa manufacturer Kristall on sanctions list

The US government has imposed sanctions on two more diamond companies, including Russia’s largest producer, Kristall. The cutting and polishing unit, which Alrosa acquired for $29 million in 2019, processes more than 200,000 carats of rough diamonds annually. Last week, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) placed Kristall on the Specially […]

Lucapa slips into the red in the first half of the year due to weak markets

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Lucapa slips into the red in the first half of the year due to weak markets

Lucapa Diamond Company reported a loss of $1.3 million for the first half of the year as a sustained market slowdown led to a decline in prices for the mining company’s rough diamonds. The loss for the six months to June 30 contrasts with a profit of $64,000 in the same period last year, the […]