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Alrosa postpones investment diamonds trading start until summer

MOSCOW, March 7 /TASS/. Russian diamond miner Alrosa has postponed initiation of investment diamonds trading on the Moscow Exchange until summer 2017, the company told TASS on Tuesday.

"The Investment Diamonds project launch deadline is postponed in connection with the need to work out its implementation mechanisms in greater detail. We are working to address interests of all market participants and offer a liquid investment and saving mechanism to investors. The project will start in summer 2017," the official spokesperson of Alrosa said.

Alrosa plans to launch trading in supply futures contracts for diamonds. This will be 0.3 and 0.5 carat diamonds at the initial stage. The company plans to start trading in 1 carat diamonds at a later stage, the spokesperson added.

Alrosa estimates the market for the new investment instrument as 3 bln rubles ($51.6 bln) at the initial stage. Such trading in diamonds futures contracts has not been organized elsewhere across the globe to date, Alrosa’s spokesperson said.