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ALROSA Hong Kong Rough Auction Fetches $10.7M

ALROSA reported that its ‘special size’ (over 10.8 carats) rough diamond auction in Hong Kong, that ran through the recently concluded Hong Kong  Jewellery & Gem Fair, realised $10.7 million.

ALROSA said 136 gem-quality diamonds with a total weight of 2,234 carats, including 25 fancy yellow stones, weighing 440 carats in total, were sold. They were bid for by 54 companies from Hong Kong, mainland China, Belgium, Israel and India.

The company has so far held three auctions this year in Hong Kong, selling over 5,500 carats and aggregating $35 million in sales.

In other news, ALROSA’s shareholders approved a half-yearly dividend payout of RUB 43.7 billion ($667.6 million), equivalent to 70 percent of the free cash flow. This is more than RUB 5 billion ($76.4 million) higher than the dividend payout for the whole of 2017.

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