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N e w s
NOVEMBER 14
Russian diamond monopolist ALROSA and the Government of Sakha Republic stroke a committee on reconsidering the rent contract of land and the producting capacity.
The duration of the contract that was signed in 1993 was 25 years. According to the terms of the contract it can be amended every 5 years. According to the contract ALROSA assigned 39% of the profit in 1992-97. In the beginning of 1998 the President of Yakutia M.Nikolayev and the President of ALROSA V.Shtyrov signed an additional agreement that reduced the rent down to 32%. Lately it was reconsidered and now the rate of payment is about 25% of diamonds produced.
The committee will continue specifying the points of the contract, V.Shtyrov said. He told that the point of the rented property is far from being discussed completely as it has been acutely risen earlier.
Meanwhile ALROSA didn't make the schedule of property and under this circumstances it can not be registered as a joint-stock company.
During 1999 ALROSA mined diamonds worth $1 542.6 mln and produced diamonds worth $47.5 mln.
Source: Yakutia.ru
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