Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Moscow, July 14, 2017 – Members of ALROSA Supervisory Board voted to approve Anton Siluanov, Minister of Finance of the Russian Federation, as Chairman of the Supervisory Board.
Yegor Borisov, Head of the Republic of Sakha (Yakutia), was elected as First Deputy Chairman of the Supervisory Board. Alexander Galushka, Minister for the Development of the Russian Far East, remains as Deputy Chairman of the Supervisory Board.
Supervisory Board Committees are formed with new chairpersons. The Strategic Planning Committee Chairman is ALROSA President Sergey Ivanov. Maria Gordon heads the Audit Committee, Valentina Lemesheva – the HR & Remunerations Committee.
ALROSA General Meeting of Shareholders elected the new Supervisory Board on June 30, 2017. The Supervisory Board has fifteen members, four of which are independent members.
The Supervisory Board of PJSC ALROSA exercises general control over the Company’s operations. The Company’s sustainable development, strategy development and control over compliance with corporate governance principles, including protection of interests of all shareholders, independently of their share in the Company’s authorized capital, employees and partners of the Company, timely and full disclosure of information and business transparency are the responsibility and fall within the competence of the Supervisory Board.
ALROSA is the world’s largest producer of rough diamonds in terms of carats. The Company is engaged in exploration, production and sale of rough diamonds. ALROSA’s operations are located in the Republic of Sakha (Yakutia) and Arkhangelsk region. In 2016, the Company produced 37.4 million carats of rough diamonds, with the proceeds in 2016 amounting to RUB 317.1 billion.
