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Parting Is No Sweet Sorrow
Yakutia’s President Vyacheslav Shtyrov has recently lashed out at ALROSA top managers, blaming the loss of technical potential and delayed exploration of new deposits on them. Moscow attributes the ardent statements of Shtyrov to forthcoming federalization of ALROSA, which will end Yakutia’s control over this diamond monopolist.
ALROSA employees witnessed Shtyrov’s feud with their top managers just a few days ago in time of the meeting, though there were no signs of approaching storm at the very beginning of it.
ALROSA President Nichiporuk reported first the 2005 results, which proved not bad at all. The target was met at 103.4 percent and the precious metal sales hit all records – the aggregate revenues were above $3.1 billion with the African diamonds taken into account. The world share of ALROSA widened from 18 percent to 25 percent.
The meeting’s sentiment was broken by Yakutia’s President Vyacheslav Shtyrov. Shtyrov said the funding of survey and exploration is being curtailed each year. Construction of underground mines is two years behind on average and their putting in operation is shelved to 2011-2014. The key reason is inefficiency of ALROSA management, Shtyrov made clear.
“I think internal problems exist. I think they root in the management system. I’ve an impression the company is under external management. The board, vice presidents have either stopped to control the company or manage it from outside,” Shtyrov said.
Asked about causes that had prompted Shtyrov to lambaste top managers, the better part of federal officials spoke of forthcoming federalization of ALROSA, which would extend Russia’s share in it from 37 percent to 50 percent plus a stock.
www.kommersant.com
All the Article in Russian as of Apr. 11, 2006
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