DIAMOND News Roundup — Russians, De Beers extend deal

South African-based De Beers Consolidated Mines and the government of Russia have agreed to extend their diamond sales agreement for one month.

The agreement, which gives De Beers the exclusive right to purchase all rough diamonds exported from Russia, now expires March 1. The extension followed two days of meetings between delegations from Russia and De Beers. A joint communique states that “the talks were conducted in a positive and constructive manner,” but that “all issues have not as yet been resolved.” In February, the parties will meet in Moscow to continue discussions.