A team of diamond ringmakers is leaving Rio de Janeiro, the city’s most famous cultural hub, and a few years after announcing they were leaving the capital, a major new project in the city is also coming. 

The Rio Diamond Ring Company has announced that it will be leaving the diamond market. 

It was founded in 2010 by local diamond dealer, Joao Alves. 

Alves says the company decided to leave the diamond business because of the “unfavourable political environment” in Brazil.

“We chose to leave because the political climate has become more favorable, and also because we wanted to be able to focus on our business, which is making rings for the Brazilian market,” he told ABC News in an interview on Wednesday. 

Rio Diamond Ring’s business was started in 2012 by Alves, who has worked with Rio Diamonds for 20 years.

The company’s current production capacity is around 1,000 pieces a day, Alves said.

“The most difficult thing is to keep producing.

It is a very demanding business,” Alves told ABC. 

“The problem is, you need a team that understands how to work with people, and the team is being destroyed by political circumstances.”

The company announced in September that it would be leaving Rio. 

In a statement, Rio Diamond s chief executive, Rodrigo Alves Rodrigues, said the company would focus on other projects, including “new opportunities in the diamond industry in the Brazilian city of Brasilia”. 

“We have decided to continue to focus our activities in the country and its surrounding areas, where we believe the world of diamonds is expanding,” he said. 

Brazilian diamond market: A report “This decision is based on the fact that the political environment has become a more favourable one in Brazil and that we cannot stay in this business.”‘

It was the most difficult decision’Rio Mayor Sergio Moro said he is “very disappointed” to hear about the company’s decision to leave.

“I’m very disappointed because this decision is the most personal for me,” Moro told CNN Brazil. 

Moro said the decision to exit was a “natural reaction” to political pressure. 

He also said he was disappointed that Rio Diamond’s current and future production would be reduced by 40%.

“We cannot keep producing the same number of pieces of diamonds,” Moros said.

He added that the company is planning to build new factories in Brazil in the coming years. 

As part of the company plan, Rio plans to start production again in 2021, and it plans to invest $30 million to start building its new production plant.

“This is the first step to creating new jobs in Brazil,” Morow said.

The move comes amid rising tensions between Brazil’s military and politicians in the state of Rio de Janiero.

Brazil’s military, led by former president Luiz Inacio Lula da Silva, has been holding protests against the government over corruption, and recently arrested a leading member of the ruling Workers Party, who they accuse of trying to undermine the government’s plans to tackle corruption.

The state government says the military is using protesters to destabilise the country, and have taken several steps to shut down demonstrations. 

This comes at a time when Rio’s population is expected to grow, with a 2020 census expected to show a huge increase. 

‘It is not a problem’A spokesperson for Rio Diamond told ABC that they have no comment on the news of the departure.

Rio’s diamond industry is the country’s biggest and most profitable. 

 “It is very important to us that our business continue to thrive in this country.

We have the biggest demand for diamonds in the world,” Alces said.