Alrosa: EU Decision on DB Deal This Month

An Alrosa executive told Canadian visitors the company expects the European Union to announce its decision on the fate of the Alrosa-De Beers agreement this month.

According to a report in Interfax, Alrosa first Vice President Alexander Nichiporuk, told the visiting business people during a meeting the company expects a decision in principle on the five year, $4 billion rough diamond agreement signed December 2001.

“Talks with the European Commission have entered their home strait,” Nichiporuk was quoted saying.

“We expect a decision in principle in October. After that, it could be six months, in other words April, before the decision is finalized,” he added.

De Beers was less explicit, choosing a more cautious reaction. Spokeswoman Lynette Hori said, “We have been making progress on the Russian front and believe we are coming to the end of this process.  Further meetings are due to be held with the Commission shortly”.