RAPAPORT… AGD Diamonds has recovered a 50.36-carat, gem-quality diamond from its Grib mine in Arkhangelsk, Russia.
The stone, which the miner unearthed last week, is its second-largest find this year. In January, it uncovered a diamond weighing 86.46 carats at the same deposit. This followed a yield of 11 large stones in 2019, each weighing in excess of 50 carats.
AGD is owned by Russian investment firm Otkritie Holding, which purchased the business from Lukoil for $1.45 billion in 2017. As part of the deal, 5% of production remains in Russia for sale by the government, with the remainder exported to the group’s Grib Diamonds subsidiary in Antwerp.
Image: The 50.36-carat rough diamond from the Grib mine. (AGD Diamonds)
AGD Unearths 50ct. Diamond at Grib
The Bottom Line
- AGD Diamonds unearthed a 50.36-carat gem-quality diamond at the Grib mine in Arkhangelsk, Russia.
- This discovery follows an 86.46-carat diamond found in January at the same location.
- AGD, owned by Otkritie Holding, exports most production through its Antwerp subsidiary, with 5% sold domestically in Russia.
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