Alrosa Brings In $10.5M at Dubai Auction

RAPAPORT… Alrosa sold $10.5 million worth of rough diamonds at a large-stone auction in Dubai, the miner said last week.



The 111 stones — each over 10.8 carats — weighed a combined
1,725 carats, and fetched an average price of $6,087 per carat.



“The auction…concluded with excellent results for us,” said Evgeny
Agureev, director of the United Selling Organization Alrosa. The final average
price was almost double the starting price, Agureev noted.



A total of 32 companies from India, Belgium, Russia, the United Arab
Emirates and the US bought diamonds at the sale, which took place from May 27
to June 14.



According to Russian law, rough diamonds above 10.8 carats from
the nation’s mines can only be sold at auction. The miner plans to hold another
auction in Dubai later in the year.