Alrosa plans rough diamond auctions for Israel in 2013

Mining giant Alrosa plans to host numerous auctions of rough diamonds in Israel in 2013, to step up its sales activity in Israel. The auctions, to be held in Ramat Gan's diamond exchange complex, will include rough diamonds larger than 10.8 carats.

During 2012, Alrosa had held auctions of rough diamonds of 10.8 carats and up, in Israel, which were successful. The initiative was the result of meetings between Yuri Okoyomov, vice-president of Alrosa and Yair Sahar, president of the Israel Diamond Exchange (IDE), held in Moscow and Israel. The success of these past auctions and Alrosa having identified the Israeli diamond center as an attractive hub for the trade in rough and polished diamonds, and following further discussions between Mr. Okoyomov and Mr. Sahar, Alrosa has indicated it intends to continue with auctions for rough diamonds of 10.8 carats and up in Israel also in 2013.

IDE president Yair Sahar expressed his satisfaction with Alrosa's position. "We're very pleased with Alrosa's decision to auction more rough in Israel. It offers further proof of Israel's wide ranging expertise and versatility in diamond manufacturing and trading. We look forward to strengthening our industry's relationship with Alrosa further," Sahar stated.