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Sales Slip in September for Alrosa
The diamond miner also announced the details of its sale of 10.8+-carat rough scheduled to take place this week.
Alrosa sold $305.8 million in rough diamonds in September and $3.9 million in polished goods for a total of $309.7 million. These results were down year-over-year due to an earlier Diwali holiday this year.
Moscow--Russian diamond mining company Alrosa has released its sales results for September and announced details of an auction of large rough scheduled to take place this week.
The Moscow-headquartered company said that its September sales totaled $309.7 million: $305.8 million in rough and $3.9 million in polished diamonds.
Vice President Yury Okoyomov said September 2017 sales are below those of September 2016 due to the earlier Diwali this year, which also impacted De Beers’s most recent sales results.
“However,” he noted, “we expect traditional revival of the market situation in the fourth quarter as the industry starts to prepare for the winter holiday season.”
In the first nine months of 2017 (January through September), Alrosa’s rough and polished sales have totaled $3.36 billion. Rough diamond sales accounted for $3.29 billion of that, while polished sales were $68.1 million.
On Monday and Tuesday, Alrosa is scheduled to hold an international auction of large (10.8+ carat) rough diamonds at the Eurasian Diamond Centre in Vladivostok.
There will be 72 gem-quality lots up for bid totaling 1,170 carats, all mined from the deposits of PJSC Alrosa and its subsidiaries, JSC Almazy Anabara and PJSC Alrosa-Nyurba. The largest lot is 47.55 carats.
Almazy Anabara is the branch of Alrosa that recently recovered a 27.85-carat gem-quality pink diamond that is the largest pink ever found by Alrosa and is likely to produce the most valuable stone in company history.
Alrosa said a total of 67 companies from the United States, Belgium, India, Israel and China have applied to bid at the auction.
It will release the sale results on Oct. 30.
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