Alrosa Holds Largest Digital Tender With Over 800 Diamonds

Russian diamond producer Alrosa offered an option to buy rough diamonds through its digital platform amid the coronavirus pandemic related restrictions. The company offers over 800 rough diamonds from 5-10 carats batches, according to its official statement. The offered volume is the largest that the company has ever put on a digital tender, TASS informs.

“Our offer gives customers interested in purchasing and ready to work remotely under current circumstances the opportunity to review and buy rough. After analyzing the clients’ needs, the company for the first time puts such vast amount of diamonds up for a digital tender. We consciously decided to sell stones separately, allowing clients to choose goods according to their needs and desired characteristics. Our proficiency in digital tenders allows us to offer clients a unique opportunity to make a commercial decision remotely instead of a traditional visit to the office, providing them with all information required,” Deputy CEO of Alrosa Evgeny Agureev said.

According to the report, digital tender is based on technologies that “provide customers with a full digital scan of each rough diamond for detailed analysis.” “Alrosa has been holding pilot digital tenders since October 2019 together with traditional sessions, with digital scans allowing customers to pre-select rough diamonds before coming to the office,” the company said. 3D-scan data includes each rough diamond’s external shape, internal inclusions, color and fluorescence.

Alrosa is one of the three largest diamond mining companies in the world — its share in world production reaches 25%. Another 6% account for Angolan enterprise Catoca, in which Alrosa owns 41%. In Russia, the company conducts activities in the Republic of Sakha (Yakutia) and the Arkhangelsk Region. The company’s shareholders are the Russian Federation represented by the Federal Agency for State Property Management (33.02%), Yakutia — 25% and its districts — 8%. Around 34% of the company’s shares are in free float.