Russia to Sell Rough Stockpiles as Demand Surges

By John Jeffay / June 09, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Russia may release diamonds from its state-controlled stockpiles, allowing Alrosa to replenish dwindling reserves as demand surges.The government holds undisclosed reserves of precious gems and metals in a repository known as Gokhran.It is now reported to be considering the release of some rough reserves through public auctions, according to Bloomberg News, which would Alrosa to replenish its inventories.The state-run miner has seen its inventories become depleted in recent months as midstream demand rallies, and is now reported to hold a record low of just 10m carats, compared with over 30m carats in Q3 2020.Gokhran intervenes to stabilize prices, and reportedly bought $1bn of rough stones to assist Alrosa in 2009 during the global financial crisis.Pic courtesy Alrosa

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok