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ALROSA Brings Rough Diamond Auction to Dubai

ALROSA Brings Rough Diamond Auction to DubaiALROSA Brings Rough Diamond Auction to Dubai

ALROSA Brings Rough Diamond Auction to Dubai

ALROSA will bring its rough diamond auction to Dubai beginning May 27 up to June 14th.The offerings will include 115 gem quality lots of standard color rough diamonds of 10.8+ carats or 1725 carats in total. The largest is a 49.17-carat stone from Almazy Anabara deposits.

Auction results will be summarized on June 18, 2018. Invitations had gone to 66 companies across the world, from India, Belgium, Russia, UAE and the USA. All diamonds on sale are the property of ALROSA and its subsidiaries, JSC Almazy Anabara and PJSC Alrosa-Nyurba.

Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA spoke of the current potential of Dubai as being among the leading centers for diamond trade and drawing a global market participation owing to its location. Evgeny Agureev added, “Analyzing the results of past auctions, we see a stable demand for our products and, according to the forecasts, the coming auctions will not be an exception. In addition, before the end of this year we plan one more auction in Dubai for the sale of large stones.”

ALROSA shares a long-standing partnership with Dubai. In 2014, ALROSA and the Dubai Diamond Exchange (DDE) signed a Memorandum of Understanding expressing cooperation on the Kimberley Process issues, sharing information and forecasts on the diamond market developments.

About ALROSA

The history of mining rough diamonds in Russia dates back to the 18th century, but sustained exploration began in the late 1930s. This was when Russian researcher Vladimir Sobolev published his paper on the geological similarities between South Africa and Siberia.

Activity was interrupted by the Great Patriotic War (World War II), but resumed in the late 1940s. Geological expeditions were sent out to find rough diamond deposits around the river Vilyui, and its tributaries – the Malaya (small) Botuobia, and Bolshaya (big) Botuobia.

In 1949 they found the first rough diamond in Yakutia. By 1954, the Zarnitsa pipe was discovered – the first primary diamond deposit in the Soviet Union. From that point, Russian diamonds made their way into world markets.

Mines to Market
the authorMines to Market
Prashant Rathod

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