New Armenian diamond cutting company and Russian ALROSA to cooperate

YEREVAN, October 8. /ARKA/. During a working visit to Moscow on October 5-6, Armenia’s Deputy Minister of Economy Narek Teryan converged with top managers of Russian ALROSA, one of the world leaders in diamond exploration, mining, sales of rough diamonds and diamond manufacturing.

According to the press service of the Armenian Ministry of Economy, Teryan met with the head of ALROSA-United Selling Company Yevgeny Agureyev and director of the company's international cooperation department, Pyotr Karakchiev to discuss increasing the efficiency of cooperation in the field of diamond processing and jewelry.

Narek Teryan was said to present details of the newly created Armenian state company Hay-Almast (Armenian Diamond). The Russian partners expressed readiness to start cooperation with it. As a result of the meeting, an agreement was reached to draw up a roadmap for bilateral actions in order to give a legal impetus to cooperation.

n January 2021, the Ministry of Economy of Armenia, with the participation of representatives of local diamond processing companies, discussed the prospects for improving cooperation with Russian ALROSA.

It was proposed that a joint-stock company with participation of the government and private companies, be established that would act as a major buyer of as much of uncut diamonds from ALROSA as needed by Armenian companies.-0-