International News
Alrosa Eyes Gold Recovery to Boost Revenue Amid Diamond Market Slowdown
Russian diamond giant Alrosa is exploring the recovery of by-product gold alongside its diamond-mining operations in a bid to diversify income streams and strengthen financial resilience.
The miner has secured approval from the federal state budgetary institution to initiate exploration for gold at its Mirny diamond deposit, the company announced last week. Specialists will now assess the feasibility and efficiency of extracting gold from the enrichment residues—diamond-bearing sands—processed at Alrosa’s Mirny-Nyurba plant.
Alrosa already holds permits to mine for precious metals at its Gornoye and Irelyakh sites, where gold is recovered as a by-product during diamond sand washing at its sorting facilities
Facing sustained pressure in the global diamond market, Alrosa has been broadening its resource base. In 2024, the company acquired the Degdekan gold mine in Russia for $274.2 million, later increasing its investment by $102.1 million to expand operations at the site.
International News
JA Lobbies For Exemptions As US Threatens 100% Tariffs
To Shield The Supply Chain, JA Is Petitioning Washington To Place Diamonds, Gemstones, and Pearls On The U.S. Annex II List, Which Designates Products Eligible For Duty-Free Entry Into The United States.
– Jewelers of America (JA) has intensified its lobbying efforts in Washington to secure sweeping tariff exemptions for diamonds, gemstones, and pearls, as new legislation opens the door to potential 100% duties on imports from major trade partners including India.
The industry group sent a delegation of executives and members to Capitol Hill on Sept. 15 for its annual “Fly-In” event, pressing lawmakers to safeguard the trade from broad trade penalties aimed at supporters of Russia’s energy sector.
The delegation, led by JA President and Chief Executive David J. Bonaparte, met with key lawmakers, including Senators Dick Durbin and Susan Collins and Representatives Jim Jordan and Dave Joyce.
The increased lobbying push coincided with Congress weighing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. Passed by the House of Representatives on Sept. 16 and signed into law by President Donald Trump on Sept. 18, the legislation grants executive authority to levy tariffs of up to 100% on the five largest buyers of Russian oil and natural gas, as well as top facilitators of sanctions evasion.
India, a primary global hub for diamond cutting and polishing, is among the top buyers of Russian crude and faces potential exposure under the law’s discretionary tariff authority.
To shield the supply chain, JA is petitioning Washington to place diamonds, gemstones, and pearls on the U.S. Annex II list, which designates products eligible for duty-free entry into the United States.
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