Alrosa Earns $7mn at Dubai Diamond Auction

Russian diamond miner Alrosa sold 112 large rough diamonds with a total weight of 1,740 carats at an auction in Dubai, the company said in a press release, according to

The overall sales revenue exceeded $7 million.

There were 84 participants from major diamond trading centers, such as UAE, India, Belgium, Russia, Israel, and Hong Kong, according to the press release.

“In Dubai, we sold 75% of auctioned rough diamonds. This is a good result at the time when the tough market is still having an impact on demand and sales. Despite the difficult situation, our Dubai trading site remains attractive for clients from all over the world. Thus, more than 80 companies participated in our latest auction,” Deputy CEO of Alrosa Evgeny Agureev said as quoted by the company’s press release.

This was the fourth Alrosa’s auction for special size rough diamonds in Dubai this year. The next one will take place in December.

Alrosa, a leading diamond mining company, has operations in the Republic of Sakha (Yakutia) and Arkhangelsk region, as well as in Angola. The company accounts for 27% of global diamond mining. In 2018, the enterprises of Alrosa Group produced 36.7 million carats of diamonds, while revenues from sales of rough diamonds and polished diamonds amounted to a total of $4.5 billion.