Russia's AGD Diamonds See Sales Rise 35% To $280 Million in 2018

Rough Market
08/01/2019 12:00

Russian mining company AGD Diamonds has reported that from January to November of 2018, AGD Diamonds earned approximately $280 million (18.9 billion rubles) from diamond sales – up 35% year-on-year. According to Rough & Polished, the miner in 2018 the company extracted 22,150,000 cubic meters of rock mass from the Grib diamond mine, recovering 3,433,000 tons of ore. 

Among the diamonds that the company mined in 2018 were five exclusive gem-quality stones with a total weight of 201.47 carats. The largest of these, named after Russian geologist Nikolay Koltsov, weighed 57.03 carats. In its last auction for 2018 held in December, AGD Diamonds earned more than $25 million from sales on the e-trading platform of its subsidiary, Grib Diamonds in Antwerp. Last year the company increased its tax payments to over $44.7 million (3 billion rubles) to the budget of the Arkhangelsk Province (compared to $33.6 million, or 2.254 billion rubles in 2017) and $1.3 million (87.64 million rubles) to the budget of the Russian Federation (compared to over $420,000 or 28.18 million in 2017).