Alrosa auctions 101 special-sized diamonds for $14.8m

The United Selling Organization (USO) of Alrosa has sold 101 special size rough diamonds with the total weight of 1751.1 carats.

Total sales revenue for diamonds amounted to $14.8m (£10.9m). The diamond mining company invited 86 companies from the main world’s diamond trading hubs, including Hong Kong, Belgium, Israel, India to an auction held in Vladivostok last month.

Evgeny Agureev, the member of the executive committee, director of the USO ALROSA, said: “33 companies were recognized as winners in different auction positions. The auction has completed with a very good results, confirming high demand for this category of rough diamonds”.

The news comes after Alrosa announced that its supervisory board recommended the payment of dividends for 2017 in the amount of RUB 5.24 (£0.61) per share.

Shareholders are recommended to pay RUB 38.592 billion (£450m) as dividends for 2017, which is about 50 % of ALROSA net profit under IFRS.