Some 200 protesters rallied in central Yakutsk in Russia’s gold-mining region of Sakha on Friday after the federal government announced plans to increase its share in Alrosa, the Russian diamond monopoly.
Most protesters left the square after a huge dump-truck nearly drove into the crowd at full speed. A smaller group of about 60 remained to continue the rally, the RIA-Novosti news agency reported.
The protest launched by the Sakha Public Center began a day earlier. Organizers told the press that eight protesters had spent the night in a tent installed near the government compound in the town center. Protesters are set to continue the protest till May 1, the Sakha public center said.
Its chairman Ivan Shamayev said that the protest had been called after the government decided to increase its share in the Alrosa diamond-mining company earlier this month. As a result, Yakutia is likely to lose as many as 10 billion rubles annually. “That amounts to a third of the republic’s budget,” he added.
Alrosa accounts for 23 percent of world diamond production. The federal government holds 37 percent of the shares in the company, while Yakutia’s government holds a 32-percent stake and 23 percent belong to the staff. Yakutia’s municipalities hold 8 percent.
Earlier this week Russian media reported that the Economy Ministry had instructed the Federal Property Agency to prepare a procedure to increase the government’s stake in Alrosa.
The agency was ordered to calculate the price of the state share in a number of companies that will be added to Alrosa’s charter capital in order to increase the Russian government’s stake to controlling.
Alrosa produces 23 percent of the world’s uncut diamonds. Its annual turnover is $1.6-2 billion. In 2002 the Russian government already increased its stake from 32 to 37 percent.
To secure a controlling stake in Alrosa the Russian government is set to hold an additional issue of shares and buy them.
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