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Sunday, 19th January 2020
9:34:28pm

AGD DIAMONDS enters international diamond market

JSC Arkhangelskgeoldobycha has been renamed JSC AGD DIAMONDS as it enters the international market.

The rebranding of the joint-stock company was due to its new marketing policy aimed at its global customers – buyers of rough diamonds.

AGD chief executive Sergey Neruchev said  the acquisition of a 100% stake in Grib Diamonds N. V., which operates in Antwerp and selling rough produced at the Grib diamond field on international markets, was an important milestone for the company.

He said this would open up numerous opportunities for the company.

 "The consolidation of the AGD production business with the Grib DIAMONDS trading company will in the long term create a full-cycle diamond mining company of international standing (comprising geological exploration, production and sales)," said Neruchev.

The Grib diamond field produced 234,000 tonnes of ore last June and raked in more than $46 million from rough sales.

 

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