Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
4 July 2018 – ALROSA, the world’s largest diamond mining company, has sold special size rough diamonds (weighing over 10.8 carats) at an international auction in Vladivostok, which was held on June 18-29, 2018.
The company received a total revenue of $17 million from the sale of 121 gem-quality diamonds with a total weight of 2,000 carats.
Companies from Belgium, China, Hong Kong, India, Israel, Russia, the United Arab Emirates and the United States participated in the auction. 36 firms recognized winners for different positions.
“The results of the last auction once again confirm that Vladivostok today is a successfully developing center of the Russian diamond business. Our auctions here gather clients from different countries, including China and the United States, leaders in the consumption of diamond jewelry. The auction in June concluded with a good premium to the starting price, which was exceeded by 1.8 times,” Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA, commented on the results.
ALROSA branch in Vladivostok was established in 2016 by the decision of the Company’s Supervisory Board with the purpose of development of the Eurasian Diamond Centre in the territory of the Free Port of Vladivostok. The branch sold the first rough diamonds at the EDC in August-September of 2016.
In 2017, the total revenue of ALROSA from the sale of diamonds at tenders and auctions in Vladivostok exceeded $70 million. On the first 2018 auction held in May ALROSA sold large rough diamonds for $14.8 million. Until the end of 2018, ALROSA will hold two more auctions in Vladivostok – in September and November.
