Policies & Issues

Alrosa Steps Down from Responsible Jewellery Council Board

Policies & IssuesMar 07, 2022

Alrosa Steps Down from Responsible Jewellery Council Board

The company is also suspending its membership and halting financial support of the Natural Diamond Council.

Alrosa has stepped down as vice chair of the Responsible Jewellery Council and withdrawn its financial support of the Natural Diamond Council. The company, along with a number of key Russian banks, remains under U.S. sanctions as Russia’s invasion of Ukraine continues.
New York—Alrosa is pulling back from two major industry organizations as the Russian assault on Ukraine continues, severely limiting its ability to market and sell diamonds worldwide. 
 
The Responsible Jewellery Council announced via its website Friday that Alrosa has voluntarily stepped down as vice chair of RJC, temporarily leaving the board of directors. 
 
“Like so many, we are deeply saddened by the geopolitical situation in connection with the Ukraine crisis,” RJC Chair David Bouffard said. 
 
“The RJC team will support our 1,500 international members with guidance to comply to all applicable sanctions, together with the RJC code of practices requirements on due diligence within their supply chains. The RJC will continue to closely monitor the situation in accordance with international regulations and update its members with guidance as it evolves.”
 
Alrosa, which has said little publicly since Russia’s invasion of Ukraine about two weeks ago, communicated its resignation to the board during a meeting on March 3. 
 
However, the company is still listed as an RJC member on the organization’s website. Its current certification is valid until December 2023.

RJC declined to comment beyond what was provided in its online statement about Alrosa.

 Related stories will be right here … 
 
Also on Friday, Alrosa and the Natural Diamond Council issued separate statements announcing the diamond miner is suspending its NDC membership and halting all financial contributions to the organization. 
 
The NDC (originally known as the Diamond Producers Association) launched in 2015 to promote natural diamonds worldwide, with an initial minimum annual budget of $6 million. 
 
Initially, the world’s seven largest diamond producers funded DPA, with the three largest producers—Alrosa, De Beers Group and Rio Tinto—contributing more than the four smaller producers, Lucara Diamond Corp., Petra Diamonds, Gem Diamonds and Dominion Diamond Corp.
 
NDC’s annual allowance more than quadrupled in its first two years, rising to $57 million in 2017, then increasing to $70 million by 2018, according to Rapaport.
 
NDC declined to comment on the organization’s current annual budget and the impact Alrosa’s withdrawal will have. 
 
Alrosa’s statement on stepping down from the NDC included a quote from NDC CEO David Kellie.
 
Kellie said, “We understand and respect Alrosa’s decision given the current geopolitical situation. We are confident Alrosa will continue to follow its outlined commitments to being a socially responsible business conducted according to the industry’s best practices and high standards. 
 
“For dozens of years Alrosa has been investing billions of dollars into building and supporting communities around its operations. We wish the company the quickest resolution of all the difficulties encountered.”

The Latest

WatchesAug 19, 2022
WatchBox Names Jack Forster Global Editorial Director

He was previously editor-in-chief at Hodinkee.

CollectionsAug 19, 2022
Piece of the Week: Akaila Reid’s ‘Wavy’ Bangle

It’s the hero piece of the emerging designer’s new “Wavy Baby” collection.

Supplier BulletinAug 18, 2022
Why Online Auctions Are Ideal For Selling Hard-To-Find Jewelry

Sponsored by HiBid

Brought to you by
The American Mined™ Collection: Ethical Sourcing That Matters

Rio Grande provides a pathway to responsibly sourced gemstones.

ColumnistsAug 18, 2022
Squirrel Spotting: The Travails of Attracting and Retaining Talent

The job market is tight, making it paramount for employers to have the type of culture employees really crave, Peter Smith writes.

Weekly QuizAug 18, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
MajorsAug 18, 2022
Pandora Charms Pet Owners with New Accessories

The jewelry company has also hired a new chief marketing officer.

CollectionsAug 18, 2022
Hearts On Fire’s Latest Collection Reaches for the Sky

“Aerial” is edgy and glamorous, inspired by nature’s wild forms.

Brought to you by
Knowledge and Skills for Today’s Hot Topics

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

GradingAug 18, 2022
VDB, Lab Grown Source Add 8X to Cut Grade Search Filter

8X is now the top cut grade on both platforms, above Ideal.

CollectionsAug 17, 2022
Playing Doubles: Monica Rich Kosann, Chris Evert Team Up on Tennis Bracelets

It is the first tennis bracelet collab for the legend, whose lost-and-found moment put the term “tennis bracelet” in the jewelry lexicon.

FinancialsAug 17, 2022
Watches of Switzerland’s US Sales Double in Q1

The company posted a strong start to the year but is cautious about the second half.

Events & AwardsAug 17, 2022
6 Things to Know About the Second HardRock Summit

The event will bring gems, minerals, and fossils under one roof from Sept. 8-11 in Denver.

SourcingAug 17, 2022
Diamond Supplier SRK Pledges 750 Solar-Power Rooftops

The charitable mission is in honor of India’s 75 years of independence.

Lab-GrownAug 16, 2022
Pandora’s Lab-Grown Diamond Line Heads to the U.S.

The announcement preceded the Danish company’s release of its second-quarter results.

ColumnistsAug 16, 2022
The PR Adviser: Describe Your Customer

Columnist Lilian Raji continues her tour of the customer journey by asking, who is your customer? And, what do they like?

EditorsAug 16, 2022
Tiffany’s ‘Lock’ Bangle May Be Its Answer to Cartier’s ‘Love’ Bracelet

The unisex style succeeds in several ways while saying a lot about what’s trending in jewelry, writes Senior Editor, Fashion, Ashley Davis.

CrimeAug 16, 2022
3 Packages Containing $6.9M in Fake Watches, Jewelry Seized in Ohio

Customs officers in Cincinnati intercepted the shipments in early August, finding counterfeit Cartier jewels and Rolex watches.

SourcingAug 15, 2022
Q&A: Moyo Gems Celebrates 3 Years and Many Milestones

In honor of the anniversary, Pact’s Mines to Markets Director Cristina Villegas discusses recent expansion and where it goes from here.

Events & AwardsAug 15, 2022
David Webb to Hold an Exhibition of Its Animal Jewelry

“A Walk in the Woods” will open at the brand’s Madison Avenue flagship this fall.

Events & AwardsAug 15, 2022
Plumb Club, JVC to Hold Webinar on Sustainability Marketing

The Jewelers Vigilance Committee’s Sara Yood will give an overview of what the FTC guidelines currently say and what may be changing.

Lab-GrownAug 12, 2022
Report: State Bank of India to Begin Lending to Lab-Grown Producers

The loans will go mostly to the import of machinery rather than working capital, according to a recent article from The Economic Times.

FinancialsAug 12, 2022
Brilliant Earth’s Fine Jewelry a Hit in Q2

The company is also continuing its retail expansion.

AuctionsAug 12, 2022
2 Rolexes Paul Newman Gave to Stuntman Stan Barrett Head to Auction

The sale also will include a third Rolex, with all three watches tied to Barrett’s 1979 attempt to break the world record for land speed.

CollectionsAug 12, 2022
Piece of the Week: İTÄ Jewelry’s ‘Danza’ Ring

It mixes diamond shapes and colors.

Supplier BulletinAug 11, 2022
AGTA GemFair™ Denver – Back and Better Than Before!

Sponsored by AGTA

AuctionsAug 11, 2022
Sotheby’s Is Preparing its First Art Jewelry Auction This Fall

“Art as Jewelry as Art” features works from artists like Salvador Dalí, Alexander Calder, and Max Ernst.

IndependentsAug 11, 2022
Martin Katz Is Moving to a Penthouse

The jeweler is relocating his Beverly Hills store after 20 years and has begun developing a lifestyle brand.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy