Alrosa sells large diamonds in Dubai for $9.5 million

Alrosa, the largest diamond mining company in the world, held special size (over 10.8 carats) rough diamond auction in Dubai. The overall revenue from sales totalled $9.5 million.
The company sold 141 rough diamonds with total weight 2,140 carats. 28 companies were recognized as winners in different auction positions. Firms from India, Belgium, UAE, Israel, Hong Kong and Russia participated in the auction.

“Dubai continues to strengthen the status of one of the most important centers of the global diamond trade. On average, we have four auctions a year in this country, and we always see high interest from the diamond market participants. All the auctions that we have held here since the beginning of 2018 ended with a good premium, our total revenue was about $40 million,” Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA, said.

Alrosa and Dubai have long-standing partnership. In 2014, the company signed a Memorandum of Understanding with the Dubai Diamond Exchange (DDE), within which the parties continue to cooperate on the Kimberley Process issues, exchange information and forecasts on the development of the diamond market.

Courtesy: Alrosa / Image: wsj.com