Source: Diamond Chamber of Russia.

Since 1996 corporate interests of the Russian diamond industry have been represented by the Diamond Chamber of Russia (DCR) (Russian diamond bourse). To celebrate its 10th anniversary the DCR held a gala-evening on December 14, 2006.

The gala was attended by the representatives of the Russian political and business elite, RF Presidential Administration, heads of ministries and government agencies, businessmen from CIS and other parts of the world. In particular, the Diamond Chamber received greetings from RF Minister of Finance A. Kudrin, RF Security Council, Gokhran of Russia, President of Sakha (Yakutia) V.Shtyrov, Chairman of the Sakha Republican government Y. Borissov, Chairman of Il-Tumen (Sakha Republican Parliament) N. Timofeyev, President of ALROSA A. Nichiporuk, President of the World diamond Council E. Izhakoff, WFDB Vice-President A. Paz.

President of the DCR, Vice-President of ALROSA Sergei Oulin opened the gala with a welcoming address. In his speech he outlined the results of the DCR activities in the past 10-year period and underscored that the DCR was established and operates to promote a civilized and open diamond market in line with contemporary international requirements and domestic needs.

Since its inception the Diamond Chamber has enjoyed support on the part of the most influential organizations of the Russian diamond industry. Among the founders and members of the Diamond Chamber there are ALROSA and Severalmaz diamond mining companies; Almazyuvelirexport Foreign Trade Association; Smolensk Kristall, other leading polished diamond and jewelry manufacturers; Ingosstrakh insurance company; banks linked to the diamond industry – Vneshtorgbank (the second largest commercial bank in Russia), Mezhdunarodny Aktsionerny Bank, MAK–Bank, SakhaDiamondBank. Currently 44 organizations are members of the Diamond Chamber.

In 2003-2006 the DCR members and other traders offered for sale over 1000 lots of natural rough diamonds weighing altogether 6.9 million carats to the total value of USD 444 million. Since 2003 the DCR has held jointly with ALROSA international auctions to sell large and special size rough diamonds. Their dynamics is as follows - in 2004 there were 4 auctions, in 2005 - 6 auctions, and in 2006 - 8 auctions. Altogether 2140 lots (approximately 276 thousand carats worth over 316 million dollars) were offered for sale by ALROSA. Practically all the diamonds were sold. For over 10 years of the DCR existence altogether USD 910 million worth of rough and polished diamonds have been offered for sale, and deals amounting to USD 875 million have been executed.

In 1999-2000 the DCR opened its branches in Yakutsk, Kaliningrad and Yekaterinburg.

The DCR has been an active member of the World Federation of Diamond Bourses (WFDB) since 2000.

The DCR’s aim is to build a universal internal system of trade in rough and polished diamonds in the process of Russia’s integration in the world economy.