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Top diamond miner ALROSA suspended from the Responsible Jewellery Council

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(Kitco News) - The Responsible Jewellery Council (RJC), the leading standards organisation of the global jewellery and watch industry, said on Friday that Russian diamond miner ALROSA has suspended its membership with the RJC with immediate effect, noting the current unprecedented realities.

According to a press-release, the RJC Board of directors also today voted to accept the ALROSA suspension.

"Like so many, we are deeply saddened by the current geopolitical crisis," said David Bouffard RJC Chair. "These have been challenging times and the Board of the RJC has been pursuing a thorough review of the situation and, as it is committed to do with each of its more than 1,500 members, ensuring due process was followed. The Board of the RJC understands and respects ALROSA's decision to suspend its membership and thanks them for their commitment over the last five years."

Earlier last week, the world's leading jewelry groups Compagnie Financiere Richemont and Pandora said they had withdrawn from the RJC due to the council's failure to suspend Russia's ALROSA membership.

ALROSA is the leader of the world diamond mining industry, a Russian partially state-owned diamond mining company. ALROSA operates across nine countries and ten regions of Russia.

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