Tag Archives: Alrosa 

Top miner Alrosa to sell Russia’s LARGEST cut diamond as demand for gems back on sparkling form

Author: RT
This post originally appeared on RT Business News

Russia’s leading gem miner is to sell the largest colorless diamond ever produced in the country. The unique precious stone, weighing 100.94 carats, is predicted to fetch more than $ 19 million at Christie’s auction in Geneva.

The gem, aptly named the Spectacle, and part of a namesake collection, will be put on sale by the auction house on May 12, Alrosa announced earlier this week. It is described as a Type IIA, D Color internally flawless diamond. That means it is extremely rare – among only 1 to 2% of all earth-grown diamonds – and the purest diamond by color scale.

Christie’s expects the stone to fetch between $ 14 million and $ 19 million. An ultra-rare oval 14.83-carat pink diamond from the same collection was sold last year at Sotheby’s for $ 26.6 million, becoming the most expensive diamond in its color grade. Another item from the Spectacle collection, a 20.69-carat Fancy Vivid Yellow diamond named the Firebird, was acquired by luxury jewelry and gem brand Graff at the end of 2019, but the price of the deal was not revealed. 

The Spectacle was polished from a 207.29-carat rough stone unearthed in 2016 in the Yakutia Republic in northeast Russia. It was one of the biggest discovered this century, according to Alrosa and took more than a year and a half to cut. 

The auction comes as the demand for jewelry begins to recover from the coronavirus crisis. According to Alrosa’s first quarter results, diamond sales have risen 65% year-on-year, with seasonally high sales to the US and China coinciding with pent-up demand for engagement rings as a result of the pandemic. Alrosa said polished-diamond prices had already exceeded their pre-crisis levels, and expected demand for rough gems to remain sustainably high in all the key markets.

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Russia’s Alrosa sees diamond sales triple for second month in row as demand in US & China remains strong

In March, Russian gem miner Alrosa recorded a threefold year-on-year surge in sales of polished diamonds. At the same time, sales of rough diamonds more than doubled, according to the latest data revealed by the producer.

In monetary terms, sales of rough diamonds amounted to $ 345 million, while polished diamond sales totaled $ 12 million. Meanwhile, the miner’s sales revenue in March ran at $ 357 million, marking a four-percent decline compared to the previous month.
Also on rt.com Russian diamond sales triple as demand in key markets recovers – Alrosa 
In February, Alrosa – the world’s leading diamond-mining company by volume – sold $ 361-million-worth of rough diamonds and $ 12-million-worth of polished gems, marking a 5.5% surge in sales of the former and a threefold growth of the latter year-on-year.

Overall sales of diamonds rose to $ 1,159 billion in the first quarter of 2021, against $ 904 million recorded in the same period a year ago.

“The results of jewelry sales in major market outlets, including the US and China, show that high demand from end consumers is maintained,” said Evgeny Agureev, Alrosa’s deputy CEO.
Also on rt.com ‘Ultra-rare’ pink Russian diamond fetches record $ 26.6 million in Geneva (PHOTO, VIDEO)
The company makes the top three of the world’s largest diamond-mining companies, as its share in the global diamond output stands at 25%. Angolan company Catoca, 41% of which is owned by Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the remote Yakutia Republic and in the Arkhangelsk Region.

Its market capitalization makes up nearly $ 9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares.

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Russian diamond sales triple as demand in key markets recovers – Alrosa 

Alrosa, the world’s leading diamond-mining company by volume, sold $ 361 million-worth of rough diamonds and $ 12 million-worth of polished gems in February, according to a report just published.

Its sales of rough diamonds rose by 5.5 percent compared to the same period a year ago, while sales of polished diamonds grew threefold against those recorded in February 2020.

However, its total diamond sales dropped by 16 percent from the previous month, when the state-owned company sold $ 430 million-worth of rough and polished diamonds.
Also on rt.com Russia’s ALROSA leading global diamond production amid Covid-19 pandemic – Putin
For the first two months of the current year, its total sales of diamonds amounted to $ 802 million, including $ 782 million from rough diamond sales and $ 21 million from polished.

“The recovery in demand for diamond jewelry in key markets continued in early 2021, providing good support for rough diamond sales,” said Evgeny Agureev, Deputy CEO of Alrosa.

READ MORE: World’s biggest diamond miners offer discounts to spark sales crushed by pandemic

Agureev added that the current supply-and-demand balance remained comfortable for both producers and buyers of rough diamonds.

“Midstream companies will seek to replenish their stocks of rough stones once they see an opportunity for that, we believe,” he said.

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