|Russian diamond mining company Alrosa has announced that it has entered into a partnership agreement with KGK Diamonds to develop cutting and polishing facilities in the new Eurasian Diamond Centre in Vladivostok, Russia.
Under the agreement, Alrosa will assist KGK in the creation of a diamond manufacturing company in Vladivostok, and will supply rough diamonds to the company.
The new cutting and polishing facilities in Vladivostok are planned to be operational in July 2017, with the new plant reaching its full capacity of at least 15,000 carats a year within four years from the start of operations. Initially, the company is expected to employ 150 employees, increasing to 500 employees over the following years. Alrosa's announcement notes that they have been supplying untreated natural rough diamonds to KGK since 2008, valued in excess of US$200 million per annum.