(IDEX Online) - ALROSA, the world's largest diamond mining company, will hold an auction of special size rough diamonds (over 10.8 carats) and polished diamonds it has manufactured in Ramat Gan from November 4-22.
The results of the auction will be announced on November 26.
The company will auction 127 large gem-quality rough diamonds with a total weight of 2,244 carats. More than 100 companies from Belgium, Hong Kong, Israel, India, UAE, the US and Russia have been invited to participate in the auction.
"The upcoming auction will be the last one planned by ALROSA in Israel this year, and we hope that, as in previous cases, our products will be in high demand among participants," said Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA.
In addition to special size rough diamonds, the company will put up for sale polished diamonds manufactured by Diamonds ALROSA, the polishing branch of ALROSA. The total weight of polished diamonds is over 900 carats.
In accordance with Russian law, special size rough diamonds can only be sold via auctions. This year, ALROSA has held five rough diamond auctions in Ramat Gan. Total revenue from sales amounts to about $70 million.