Alrosa Sells $10M at Hong Kong Auction

RAPAPORT... Alrosa sold $10.4 million worth of rough at a large-stone auction in Hong Kong, the miner said last week. The 100 diamonds - each over 10.8 carats - weighed acombined 1,550 carats, and garnered an average price of $6,710 per carat. Stonessold for more than one and a half times their original asking price, thecompany noted. A total of 28 companies from Hong Kong, Belgium, Israel,India, the United Arab Emirates and Russia bought diamonds at the sale. According to Russian law, rough diamonds above 10.8 caratsfrom the nation's mines can only be sold at auction. The miner plans to holdanother auction in the municipality in September, running alongside the HongKong Jewellery & Gem Fair.