The diamond producer is also looking to adjust its supply chains, as Western customers want assurance that their purchases do not come from Russia.

The 228.31 carat pear-shaped stone roughly the size of a golf ball is expected to sell for up to $30 million.

SRK Consulting believes Africa can be the ‘missing resources link’ as the world prepares for an accelerating energy transition.

These diamond parcels were recovered between 2006 and 2008 from 120-cm diameter drilling programs.

Lengthy transition is likely to upset West Africa's political bloc that has called for a swift return to constitutional order.

Alrosa, , the world’s top diamond miner by output, is responsible for 90% of Russia’s diamond production and 28% of global supply.

The disruptions around Russian diamonds are being felt through the global industry, which was already facing a shortage of rough stones even before the war in Ukraine.

Silver and wood products from Russia will also be prohibited and tariffs will be increased by 35% on 130 million pounds ($170 million) worth of diamonds and other products,