Rapaport Auctions Will Hold Major Diamond Sale in Israel

Rapaport Auctions will be holding its next single stone polished diamond auction and sale in Israel during the U.S. & International Diamond Week from April 6 to 10. As the leading recycler of diamonds in the world, Rapaport expects to offer over 2,000 diamonds at the sale.

Israel is a very strong supporter of the recycled market due to the expertise of its cutters who optimize the value of recut diamonds. Rapaport is pleased to be coordinating its efforts with the Israel Diamond Exchange and expects the upcoming event to attract hundreds of international buyers. The Rapaport sale will provide unprecedented opportunities for buyers to source a large quantity and wide variety of diamonds at fair market prices. 

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NLMK Group Saves Over RUB 850 Million in 2013 Through Increased Energy Efficiency

As a result of measures taken in 2013 to improve energy efficiency, NLMK Group (LSE: NLMK) has saved more than RUB 850 million.

NLMK Group’s Strategy 2017 forecasts that its energy efficiency improvements will lead to an annual increase in EBITDA of around USD 88 million.

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Forevermark Diamond Brand Reports Strong Growth In 2013

Forevermark, the diamond brand from the De Beers group of companies, announced a strong year of growth, driven predominantly by continued consumer demand in core markets, China, U.S., India and Japan. Stephen Lussier, Forevermark CEO commented, “The brand has performed exceptionally well in the last year. We are now fully established as a globally recognised brand with presence in over 1,300 retail outlets across 12 major markets.”

Expansion has progressed rapidly since the brand launched in 2008. In the last year alone, the number of stores selling Forevermark diamonds has increased by almost 40%. Forevermark’s licensee program also saw launches in Australia, Brunei, Kuwait and producer country, Namibia in 2013. 

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NLMK Obtains International Certificates For High-strength Steel Slabs

NLMK Group has successfully passed certification audits confirming that its production of special-size slabs from high-strength and corrosion-resistant steel grades is compliant with the requirements set forth by certifying agencies Det Norske Veritas (Norway), Lloyd’s Register (Great Britain), and the Russian Maritime Register of Shipping (Russia).

Following the audits, which were conducted in accordance with the rules of the International Association of Classification Societies (IACS), NLMK obtained new certificates extending the scope of application for slabs from F and FH high strength steels and in new sizes – 355 mm thick and 2,200 mm wide. 

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Arbitrazh Court of Moscow orders Maximov to return RUB 7.3 billion to NLMK Group

On 7 February 2014, the Arbitrazh Court of Moscow decided to recover from Nikolai Maximov over RUB 7.3 billion in favor of NLMK, declaring invalid the Agreement of 2007, under which NLMK bought a controlling share (50%+1) in Maxi-Group, as concluded under the influence of fraud on the part of Mr. Maximov.

Moreover, an appraisal was conducted as part of the proceedings, revealing that the cost of the controlling shares in Maxi-Group at the moment of purchase was 2 times lower than the advance payment made by NLMK in favor of Mr. Maximov when concluding the deal. 

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Mechel Starts To Ship Coal From Posiet Seaport

Mechel reports successful tests of the new coal export terminal at Primorye Region’s Port Posiet. Modernization of the port’s facilities will enable the company to significantly increase export to the Asia-Pacific countries. The project’s cost is estimated to total some 4.5 billion rubles.

The first stage of Port Posiet’s technical revamping provisions for a cargo turnover growth to up to 7 million tonnes a year. With the new coal export terminal, the port will be able to unload some 400 wagons a day (28,000 tonnes of coal) and load about 30,000 tonnes of coal daily onto cargo vessels. 

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NLMK Group Enters A New Growth Phase With The Launch Of "Strategy 2017"

NLMK had announced the launch of its “Strategy 2017”. “Strategy 2017” targets net gains of $1.0 billion per annum and contemplates total new investment of $1.6 billion. “Strategy 2017” is focused on unlocking significant internal potential of the Group’s businesses by boosting operational and process efficiency across the entire production chain, enhancing vertical integration into key raw materials, increasing sales of high-value added (HVA) products, and pursuing environmental, safety and human capital development programmes. 

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De Beers Bolsters Executive Committee: Adds Three New Members

The De Beers Group of Companies has made three new appointments to its Executive Committee, adding 75 years of diamond experience. Paul Rowley, Executive Vice President of Global Sightholder Sales, Neil Ventura, Executive Vice President of Auction Sales and Balisi Bonyongo, CEO of Debswana, will join the Executive Committee with immediate effect.

Paul Rowley joined De Beers in 1983 and has filled a variety of senior positions in the organisation. He has served on both the DTC Botswana and Namibia DTC boards and was Acting CEO of DTC Botswana prior to his current role. His earlier experience also includes key account management, rough diamond purchasing in various African diamond producing countries and heading the Global Sightholder Sales Diamond Division. 

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EuroChem Reports IFRS Financial Information for 2013

EuroChem yesterday announced consolidated full year 2013 revenues according to IFRS of RUB 176.9bn (US$ 5.6bn), which represented a 6% increase on revenues of RUB 166.5bn (US$5.4bn) in 2012. Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to RUB 43.0bn (US$ 1.3bn), as compared to RUB 49.2bn (US$ 1.6bn) in the previous year.

Full year fertilizer sales volumes for our nitrogen and phosphate segments, excluding sales of mining co-products, increased 788 thousand metric tons (KMT) or by 8% to 10.6 million metric tons (MMT) as compared to 2012 sales volumes (or up less than 1% on a like-for-like basis, excluding EuroChem Antwerpen and EuroChem Agro). Mining raw material sales volumes, which include iron ore and baddeleyite, added over half a million tonnes and grew to 5.9 MMT, which represented an 11% increase on the previous year. 

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The Diamond Show Set to Dazzle Basel

The Diamond Show is set to bring a sparkling revolution to the Basel jewelry and watch week. Opening its doors on March 27, at Basel’s Markthalle in Viaduktstrasse, the show will provide an opportunity for retailers, jewelers, designers, dealers and watch makers to source their diamonds and diamond jewelry from the best manufacturers around the world.

A large contingent of U.S. diamond manufacturers will be exhibiting top-quality diamonds in a pavilion organized by the Diamond Dealer’s Club of New York. “New York specializes in the finest quality of large diamonds and fancy color diamonds. The Diamond Show will provide international buyers with a great opportunity to access an extensive range of diamonds direct from the source,” said Mordy Rapaport, Director of Rapaport Exhibitions. 

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