Alrosa reports stable international demand for large diamonds

Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel.

A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots.

Firms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction.

“The auction ended with good results – the starting price was exceeded by 1.5 times. This indicates a stable demand for our products not only in Israel, where the auction took place, but also in other major diamond trade centers,” said Alrosa member of the executive committee Evgeny Agureev.

In 2018, Alrosa held five auctions at the Israeli site to sell large-size rough diamonds, having already raised about $70-million.

Under Russian law, diamonds of special sizes – weighing over 10.8 ct – can be sold at auctions only.

Alrosa has one more auction in Israel planned for the year.