RAPAPORT… AGD Diamonds has recovered a 118.05-carat, gem-quality diamond from its Grib mine in Arkhangelsk, Russia.
The stone, which the miner unearthed last week, is AGD’s fifth over 50 carats this year, it said Friday. The discovery follows the sale of a 7-carat purple diamond with a pink tinge, for which it garnered $100,000 per carat at tender in July, a record average price for the company.
Russian investment firm Otkritie Holding has owned AGD since purchasing it from Lukoil for $1.45 billion in 2017. As part of that 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.
At Grib Diamonds’ most recent sale in September, it sold around 550,000 carats for approximately $45 million.
Image: The 118.05-carat rough diamond. (AGD Diamonds)
Grib Mine in Russia Yields 118ct. Diamond
The Bottom Line
- AGD Diamonds extracted a 118.05-carat gem-quality diamond from the Grib mine in Arkhangelsk, Russia.
- This is AGD’s fifth diamond over 50 carats recovered in 2023.
- AGD’s recent sales include a 7-carat purple diamond sold at $100,000 per carat and a September tender of 550,000 carats totaling about $45 million.
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