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World largest diamond-mining companies join efforts
3.02.2009 11:52
World largest diamond-mining companies join efforts

World leaders in diamond production, namely Russian Alrosa, De Beers, BHB Billiton and Rio Tinto are set to join efforts to sustain demand and prices in the diamond industry, reports the Vedomosti newspaper.
      In the course of the advertising campaign diamonds will be promoted as a good way to invest money, Alrosas CEO Sergei Vybornov said.
      To implement the new marketing strategy the competitors will set up a company under the name of SteerCom, said Lynette Gould, De Beers spokeswoman. It is supposed that all participants of diamond production cycle from mining companies to jewellers will finance SteerComs funds. The Jeweller Harry Winston has joined the campaign, Lynette Gould added.
      The volume of investments has not been announced, though experts say the companies need at least $1 billion to make the marketing campaign successful.
      Russian Business


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