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ALROSA Earns $8.3M At Large-Size Rough Diamond Auction In Dubai

ALROSA announced that it earned $8.3 million from an international auction for special size rough diamonds (over 10.8 carats) in Dubai. The company said it sold 121 rough diamonds with total weight of 1,950 carats.

Firms from the UAE, India, Belgium, Israel, Hong Kong, Russia and the US participated in the auction, with 31 firms placing winning bids.

ALROSA United Sales Organisation (USO) Director Evgeny Agureev commented, “ALROSA and Dubai have a longstanding partnership. Since 2014, we have been cooperating with the Dubai Diamond Exchange on industry issues; we have our trading company here, where we regularly hold auctions.”

He added, “This year, we decided to increase the number of auctions in Dubai to five, because we see stable demand, including from local firms.”

In 2018, ALROSA earned about $40 million at international auctions in Dubai.

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