JOHANNESBURG (miningweekly.com) – Russian diamond major Alrosa sold $309.7-million worth of rough and polished diamonds in September – a 32% decrease on its sales in the same month last year.
Rough diamond sales amounted to $305.8-million and polished diamond sales to $3.9-million, compared with year-earlier sales of $435.1-million worth of rough diamonds and $18.9-million worth of polished diamonds.
"The decline in sales in September compared with the same month in 2016 is due to lower activity level in the market, particularly caused by the early beginning of the Diwali festival in India this year, for which reason many factories are closed for a long period,” explains Alrosa VP Yury Okoyomova.
However, Alrosa expects a revival of the market in the fourth quarter as the industry prepares for the holiday season.
Diwali the biggest and most important holiday in India. It lasts for five days, and coincides with the Hindu new year.