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.
Following anaemic April sales caused by falling demand due to the covid-19 pandemic, Russia’s Alrosa (MCX: ALRS) has started pushing for the sale of fluorescent diamonds.
According to the world’s top diamond producer by output, customers are interested in learning more about the more colourful gemstones.
According to AGS Laboratories, which has partnered with Alrosa in this new quest, 94% of all diamonds submitted to them have negligible fluorescence. Very strong fluorescence appears in just about 0.34% of diamonds
“Recent research shows a positive impact of fluorescence on a diamond’s appearance and proves a significant market potential,” the miner said in a media statement.
Fluorescence is the ability of a diamond to glow under some conditions. Most natural diamonds contain atoms of nitrogen in their lattice. In some crystals, these nitrogen atoms cause a specific reaction to UV rays. Under the blacklight or the sun, such diamonds exhibit a soft fluorescent glow.
Alrosa said that a particular ‘classic blue’ fluorescence is unique to natural diamonds but just a small proportion of all stones has this effect to a considerable intensity.
“Long known by the diamond miners and dealers, fluorescence remains underexplored and underestimated by jewellers and end consumers,” the release states.
“[But] qualitative research conducted in the US in 2019 indicated that consumers’ inability to see a fluorescent diamond’s blue glow does not affect their interest in the concept of inner light. The idea of a ‘hidden secret that only you know’ resonates well with people.”
