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Alrosa rakes in US$463m from 2018 auctions

22 January 2019


Rough diamonds

 

Russian mining giant Alrosa generated a total of US$463 million in revenues from 32 international auctions of special-sized rough diamonds or those over 10.8 carats in 2018.

The company traditionally holds auctions in six destinations – Russia, Belgium, Israel, Hong Kong, the UAE and the US. The largest number of auctions in 2018 was held in Moscow, 11, while four were done in Vladivostok. For the first time in many years, the company organised auctions at its sales office in New York, which resumed operations last year. Six other auctions took place in Ramat Gan, three in Hong Kong, four in Dubai and two in Antwerp.

Alrosa said it had lined up 37 international auctions in 2019, increasing the number of auctions in Antwerp, New York and Dubai.

“International auctions are an integral part of our trading activity,” said Evgeny Agureev, director of the United Sales Organization at Alrosa. “In general, we are pleased with the results of 2018, and we found opportunity to increase the number of auctions in 2019 on the back of stable demand.”