Sergey Ivanov, CEO of ALROSA said that the company was ready to discuss new opportunities in its relationship with Israel, which is already a major partner in its diamond business, while on an official visit to the Israel Diamond Exchange (IDE).

During his visit, Ivanov was received by IDE President Yoram Dvash and IDE Managing Director Eran Zini, and also visited key new facilities developed by the trade there. These include the Technological Innovation Center, International Tender Center and newly launched Auction Center. A discussion on the partnership with Alibaba also took place.

Ivanov also held discussions with IDE Board of Directors members Hezi Blum, Ezra Boaron, Zvi Zamir, Nissim Zuaretz, Meir Dalumi and Israel Diamond Manufacturers Association President Jacob Korn.

While providing an overview of the Israeli Diamond Industry, IDE President Dvash called on Alrosa to expand its rough diamond supply to Israel. Dvash explained that the Israeli industry focuses on large, high quality diamonds, with a cadre of expert craftsmen specializing in polishing large stones. “We don’t have mines or a large retail market in Israel, but we have history, knowledge and capital. What we don’t have is enough rough,” he said.

Ivanov emphasized IDE’s importance to the company. He stated that more than 100 Israeli companies compete in each of the multiple tenders of large rough stones that ALROSA holds in Israel every year. As to expanding rough supply to Ramat Gan, Ivanov said, “Israel is a major partner in our diamond business. We are ready to discuss new opportunities.”

Pic caption: Alrosa CEO Sergey Ivanov (l) and IDE President Yoram Dvash