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ALROSA sells at March auction special size diamonds of about $10M

April 01, 2012, 6:39 UTC+3
The auction participants included 60 Russian companies as well as companies from China, Israel, Belgium, and India
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MOSCOW, April 1 (Itar-Tass) —— Diamonds of Russia – Saha /ALROSA/ Company sold in March of the current year at auction diamonds of special sizes worth about 10.3 million dollars, the company reports.

Over the period from January 30 through to February 27, 2012, the auction participants could see offered diamonds: 118 stones of over 2,000 carats. The biggest one weighted 88.71 carats.

The auction participants included 60 Russian companies as well as companies from China, Israel, Belgium, and India.

In 2012, ALROSA plans to produce diamonds at the level of 34.6 million carats, the sale diamonds to the sum of more than five billion dollars. ALROSA reserves reach 1.2 billion carats and are enough for maintaining the production of diamonds at the current level during 32 years.

ALROSA is one of world’s biggest diamond mining companies, accounting for 25 percent of global diamond production. The federal government holds a 50.9256%-stake in the company, a total of 32.0002% of shares are owned by the Republic of Sakha (Yakutia); as many as 8.0003 percent are owned by Yakutia’s eight uluses (districts), and other legal entities and private individuals hold 9.0739 percent of shares.

ALROSA is world’s first diamond miner in terms of carats and money proceeds. It accounts for 30 percent of the global diamond output in terms of product costs. The company mines 94 percent of Russia’s diamonds. In 2012, it plans to mine 34.6 million carats of diamonds and to sell more than five billion U.S. dollar worth of diamonds. ALROSA’s reserves are estimated at 1.2 billion carats, which is enough to maintain the current production output for the next 32 years.

 

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