https://www.miningweekly.com

Alrosa sells more than 1 700 ct of diamonds in digital auction

25th August 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Russian diamond miner Alrosa has sold 132 lots, weighing more than 1 700 ct during its digital auction in August.

As part of the auction, clients were able to view and evaluate 2 300 ct of rough diamonds across 172 lots.

The digital twin technology used for its auction, enables buyers to make well-informed buying decisions remotely based on the comprehensive data on the offered product line, says Alrosa.

“The results of the digital auction show that the market participants have adapted to work in a new reality. During the August auction of special-size rough diamonds, we sold more than three-quarters of the auctioned lots by units, as well as by weight,” Alrosa deputy CEO Evgeny Agureev comments.

Agureev says this result is good evidence of the recovery of the demand for the high-quality rough diamonds and demonstrates that the miner’s new sales channel “is gradually [being] accepted by the market”.

Alrosa started to pilot online sales of rough diamonds in the autumn of 2019 and has, from March, offered its clients the option of buying rough diamonds at online auctions and tenders without on-site reviews owing to Covid-19-related pandemic restrictions.

Traditional offline auctions for special-size rough diamonds resumed in May, with the goods displayed at the company’s trading offices in Belgium and Israel.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION