Russia Close to Lifting Diamond, Pgm Export Quotas – Alrosa Chief

MOSCOW. Dec 16 (Interfax) – The Russian government and Finance Ministry are rounding off preparations to abolish export quotas, Alexander Nichiporuk, head of Alrosa, Russia’s Yakutia-based diamond monopoly, told reporters at a briefing in Moscow.

Nichiporuk told Interfax that this would apply to uncut diamonds and platinum-group metals (PGMs).

Alrosa has a five-year quota to export diamonds, which expires in 2008. The quota entitles Alrosa, which mines around 23% of the world’s diamonds, to export $1.3 billion worth of uncut diamonds per year.

Alrosa expects all restrictions on uncut diamond exports to be lifted by July 1, 2006, in line with Russia’s WTO accession commitments.