CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
SourcingJul 24, 2018
Alrosa Reports Second Quarter Drop in Sales
Diamond production also was down year-over-year due to the loss of the Mir underground mine.
Rough diamond production totaled 8.5 million carats in the second quarter for Russian diamond mining company Alrosa, up 15 percent from the first quarter but down 18 percent year-over-year. The company picked up production at Severalmaz and the Udachny mine (pictured here) in Q2.
Moscow—The loss of the Mir underground mine and the sell-off of 6 million carats of rough diamonds in the first quarter dinged second quarter sales and production results for Alrosa.
The Russian diamond miner reported Monday that diamond production rose 15 percent quarter-over-quarter in Q2, from 7.4 to 8.5 million carats, due to a return to seasonal production at alluvial deposits and a ramp-up in production at Udachny and Severalmaz.
However, production is down 18 percent year-over-year due to the closure of Mir, as well as a lower diamond grade at the International underground mine and the processing of more lower-grade ore at the Jubilee pipe and the Aikhal division’s underground mine. Mir has been shuttered since August 2017 when a flood resulted in the deaths of eight workers.
(The company recently lost another worker in an explosion at another underground mine, Udachny.)
Rough diamond sales (in volume terms, counting both industrial and gem-quality stones) totaled 9 million carats, down 32 percent quarter-over-quarter and 12 percent year-over-year.
Breaking it down by type, sales of gem-quality diamonds totaled 6.3 million carats, down 38 percent from the first quarter and 21 percent year-over-year. Industrial diamond sales accounted for the remaining 2.7 million, declining 16 percent quarter-over-quarter but increasing 23 percent year-over-year.
Alrosa said the quarter-over-quarter drop is due to the 6 million in rough diamonds it sold from stock in the first quarter while the year-over-year decline is attributable to lower production.
Dollar-wise, rough diamond sales totaled $1.06 billion ($1.03 billion gem-quality, $3 million industrial), down 33 percent from $1.58 billion in the first quarter and 6 percent from $1.13 billion year-over-year.
The average realized price for gem-quality diamonds, however, grew 6 percent from the first quarter and 18 percent year-over-year to $164.
Alrosa attributed the increase to general demand growth and more large (10.8 carats or more) diamonds in the product mix. Large stones’ share of dollar-denominated sales grew from 5 percent in the first quarter to 14 percent in the second quarter.
Polished diamond sales totaled $26.2 million, up 11 percent quarter-on-quarter and 15 percent year-over-year.
Looking ahead to the second half of the year, the diamond mining company said it expects sales to slow—as rough diamond sales generally do in the latter half of the year—and is maintaining production guidance at 36.6 million carats, which is 8 percent below 2017.
Alrosa estimates that globally, diamond jewelry
demand was up 7 percent in the first quarter of 2018, including a 5 percent increase in North America (the United States and Canada).
The rough diamond market recorded a strong second quarter as well, driven by a reduction in supply from diamond miners, “normalized” stock levels in the mid-stream and, as mentioned above, strong consumer demand, Alrosa said.
The rough diamond market recorded a strong second quarter as well, driven by a reduction in supply from diamond miners, “normalized” stock levels in the mid-stream and, as mentioned above, strong consumer demand, Alrosa said.
More on Sourcing
The Latest
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
