ALROSA announced that it plans to hold four auctions of special size rough diamonds (10.8 carats and above) in New York during the year, with the first scheduled to begin on February 18, 2020.

Subsequently, auctions will commence on May 11, July 20 and November 16, the miner said in a statement.

Results of the first auction will be announced by the beginning of March, the Company annoucned.

"In general, each auction attracts up to 100 companies from different countries," said Evgeny Agureev, Deputy CEO of ALROSA. "Auction sales currently account for about 10 percent of our overall sales."

Companies from Belgium, Israel, China, India, Hong Kong, Russia, and other countries, along with American buyers are expected to participate.

ALROSA's overall rough and polished diamond sales from January through December of the last year amounted to $3.338 billion. During the twelve months of 2019, rough diamonds sales amounted to $3.273 billion, polished diamonds – to $64.7 million.

In December, the company observed signs of a stabilizing diamond demand that emerged earlier in the second half of the year, largely supported by the flexible sales strategy of mining companies and the consumer demand for jewellery in the US market.