ALROSA Plans to Auction Large Diamonds in Dubai

ALROSA, the world's largest diamond mining company, will hold an auction for the sale of special size rough diamonds (weighing over 10.8 carats) in Dubai in the period from May 27 to June 14, 2018.

The company will auction 115 gem quality lots of standard color with the total weight of 1725 carats. All the diamonds are the property of ALROSA and its subsidiaries, JSC Almazy Anabara and PJSC Alrosa-Nyurba. The largest 49.17-ct stone was recovered from Almazy Anabara deposits.

66 companies from India, Belgium, Russia, UAE and the USA are invited to participate in the auction. Summing up of the results will take place on June 18, 2018.

"At the present time, Dubai is one of world's leading centers for diamond trade and attracts market participants from all over the world thanks to its perfect geographical location. Analyzing the results of past auctions, we see a stable demand for our products and, according to the forecasts, the coming auctions will not be an exception. In addition, before the end of this year we plan one more auction in Dubai for the sale of large stones," told Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA.

ALROSA and Dubai have long-standing partnership. In 2014, the company signed a Memorandum of Understanding with the Dubai Diamond Exchange (DDE), within which the parties continue to cooperate on the Kimberley Process issues, exchange information and forecasts on the development of the diamond market.