Alrosa Auction Garners $17M

RAPAPORT... Alrosa sold $17 million worth of rough at a large-stoneauction in Vladivostok last month, the Russian miner said Wednesday. The 121 diamonds - each over 10.8 carats - weighed acombined 2,000 carats, and fetched an average price of $8,500 per carat. The stonessold for more than one and a half times their original asking price, Alrosanoted. Companies from Belgium, China, Hong Kong, India, Israel,Russia, the United Arab Emirates and the US participated in the auction, with36 firms making purchases. According to Russian law, rough diamonds above 10.8 caratsfrom the nation's mines can only be sold at auction. This auction is the second one Alrosa has held in Vladivostok this year. The miner plans to hold another two inSeptember and November. Image: Alrosa