International

Alrosa raises $6.5m at Vladivostok rough diamond auction

Diamond mining company Alrosa has summed up the results of the international auction for special size rough diamonds (over 10.8 carats) held in Vladivostok, Russia, this July.

The company sold 112 gem-quality diamonds weighing 1,780 carats, and the total revenue from the sale of stones amounted to $6.5m (5.2m).

Evgeny Agureev, member of the executive committee, director of Alrosa, said: “The market is experiencing a seasonal decline in activity, and our auctions are also under pressure from the industry’s general correction of demand for rough diamonds.

“In general, our Far Eastern site continues to attract clients from all over the world. Firms from Russia, Hong Kong, the US, the UAE, Israel, Belgium and India were among the participants, 50 companies in total.”

Since the beginning of 2019, ALROSA has held three auctions in Vladivostok, raising a total of about $25m (£20m). Its next auction in Vladivostok will take place in September.

Back to top button