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.
Alrosa sold rough diamonds to the Russian state gem repository Gokhran in 2Q 2012, according to a report from the company.
The exact size of the sale was not disclosed, but it is known that Alrosa’s board had approved selling up to $130 million worth of rough diamonds.
These are Alrosa’s first sales to Gokhran since the economic downturn hit in 2009.
Alrosa said the sales were a measure aimed at maintaining acceptable price levels as the company’s clients signaled that they were experiencing financial trouble in 2H 2011.
Source: Diamond.Net via BrightWire News
