Diamond miner Alrosa has held two successful auctions of larger diamonds, which deputy CEO Evgeny Agureev said on Monday confirmed the demand for high-quality rough diamonds.
At the Israel auction, total proceeds of $13.3-million “significantly exceeded” the reserve price, Agureev said, reporting that the company sold 100 rough diamonds with a total weight of 1 860 ct to 31 participants from Israel, United Arab Emirates (UAE) and Belgium.
In Belgium, the company sold 133 rough diamonds with a total weight of 2 173 ct for $7.4-million. Clients from Belgium, India, Israel and UAE bought the goods.
Under the current legislation, Alrosa sells special-size (more than 10.8 ct) rough diamonds at auctions only. Auctions were suspended in March, owing to the Covid-19 pandemic. Customers participated in online auctions with detailed digital copies of each rough diamond provided for review and detailed analysis. In May, the company started the return to the usual format by organising auctions in its trading offices in Belgium and Israel.
“We continue to monitor the market's needs and focus on meeting the real demand,” noted Agureev.