ALROSA has reported that it garnered US$ 17 million from the auction of special size (over 10.8 carats) rough diamonds, which was held in Israel on November 4-22, 2018.

The miner said that it sold 105 gem-quality rough diamonds with the total weight of 1,906 carats. Forty-four companies were recognized as winners in different auction positions.

Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA, said, “The results of this year’s last auction in Israel confirm the stable demand for our products in this country – the total starting price has been significantly exceeded. This year, we held six auctions in Israel and sold large rough diamonds for a total amount of $90 mn.”.

More than 100 companies from Israel, Belgium, Hong Kong, India, UAE, the US and Russia were invited to participate in that auction.

Under Russian law, special size rough diamonds can only be sold through auctions.