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Today's paper. Last Updated: 05/31/2012

De Beers Talks Set

MOSCOW () -- A new round of talks between South African diamond giant De Beers and Russia on renewing a five-year deal look set for January after the two sides met in Moscow this week, De Beers officials said Thursday. Under a five-year contract with De Beers, which is up for renewal late in 1995, Russia sells 95 percent of its rough gem diamond exports through the firm's Central Selling Organization.


Russia wants this contract revised to allow greater access to the world markets for its gems as well as an increase in its current quota -- 26 percent of the CSO's world sales.




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