ALROSA Sells $12.6M of Large Rough Diamonds in Vladivostok

Rough Market
20/09/2018 14:37

ALROSA, the world's largest diamond mining company, has sold 'special size' rough diamonds (larger than 10.8 carats) at auction in Vladivostok, with overall revenue amounting to $12.6 million. At its latest sale of large stones, the company sold 108 gem-quality lots with total weight of 2,003 carats. 76 companies from Russia, mainland China, Hong Kong, the US, Israel, Belgium, India and UAE took part in the auction.

“The Far East is still of strategic interest for us in terms of expanding cooperation with China, and we traditionally invite companies from this country to participate in our auctions," siad Evgeny Agureev, member of the Executive Committee and Director of the United Selling Organization of ALROSA. "The auctions in Vladivostok are particularly successful this year. We sold more than 100 diamonds of excellent quality at the latest auction, and got a good premium to the starting price. We plan to hold the next auction in Vladivostok in late October - early November." ALROSA branch in Vladivostok was established in 2016 by the decision of the company’s Supervisory Board with the purpose of development of the Eurasian Diamond Centre in the territory of the Free Port of Vladivostok. The branch sold the first rough diamonds at the EDC in August-September of 2016.