China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (348)	8/15/2003 11:24:46 AM
From: RealMuLan	Read Replies (2) of 6370

Russian diamond industry fleeing to China By John Helmer MOSCOW - Russia's US$1.6 billion diamond-mining industry is in increasing turmoil from a squabble over control of diamond supplies involving the De Beers company, Almazy Rossii-Sakha (Alrosa), Russia's dominant diamond-miner, and its leading diamond manufacturer, Smolensk Kristall, which is threatening to move part of its diamond-cutting business to Guangdong Province in Southern China. It remains to be seen how serious the threat becomes. Maxim Shkadov, deputy general director of Smolensk Kristal, told Asia Times Online that his company is being forced to by a combination of supply and price troubles that industry sources blame on the link between De Beers and Alrosa. With an unnamed Chinese partner, he says, he is to soon open a new diamond works in Guangzhou, to be supervised by Smolensk Kristall's nearby Hong Kong office. atimes.com

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