Alrosa Delays Start Of Investment Diamonds Trading On Moscow Exchange

(IDEX Online) – Russian diamond miner Alrosa has delayed the start of investment diamonds trading on the Moscow Exchange until the summer.

"The Investment Diamonds project launch deadline is postponed in connection with the need to work out its implementation mechanisms in greater detail," said a spokesperson for Alrosa as reported by the TASS news agency.

"We are working to address the interests of all market participants and offer a liquid investment and saving mechanism to investors. The project will start in summer 2017."

Alrosa plans to launch trading in futures contracts for diamonds, starting with 0.3 and 0.5 carat diamonds, adding one-carat diamonds at a later stage.

Alrosa estimates the size of the initial market for the new investment instrument as three billion rubles ($52 million).