(IDEX News) - ALROSA is holding an auction of special size rough diamonds weighing over 10.8 carats in Dubai from May 27 to June 14.
The company will auction 115 gem quality lots of standard color with a total weight of 1,725 carats. All the diamonds are the property of ALROSA and its subsidiaries, JSC Almazy Anabara and PJSC Alrosa-Nyurba. The largest stone, weighing 49.17 carats, was recovered from Almazy Anabara deposits.
66 companies from India, Belgium, Russia, UAE and the USA were invited to participate in the auction. The results will be announced on June 18.
"At the present time, Dubai is one of world's leading centers for the diamond trade and attracts market participants from all over the world thanks to its perfect geographical location," said Evgeny Agureev, a member of the miner's Executive Committee and Director of USO ALROSA. "Analyzing the results of past auctions, we see a stable demand for our products and, according to the forecasts, the coming auctions will not be an exception. In addition, before the end of this year we plan one more auction in Dubai for the sale of large stones."
ALROSA and Dubai have a long-standing partnership. In 2014, the company signed a Memorandum of Understanding with the Dubai Diamond Exchange (DDE), under which the parties continue to cooperate on Kimberley Process issues, exchange information and forecasts on the development of the diamond market.