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Home > Diamond News Center > Diamond News > World

Alrosa Dumps Diamond Stock Under Duress

19.08.12, 10:46 / World
Alrosa  Enlarge
Sorting and valuation of Alrosa diamonds
Russian state-owned diamond company Alrosa sold a significant amount of rough diamonds to the government's precious gem repository in recent months, according to Alrosa reported the Q2 sale to Gokhran in a report it issued, but did not indicate the exact volume of carats or the cash value of the diamonds it offloaded.
The sale may have constituted up to $130 million worth of rough diamonds, which is the sum that Alrosa's approved of selling to Gokhran.
The sale marks the first time that Alrosa has unloaded stock to the state repository since the beginning of the global financial crisis in 2009.
Alrosa stated that the purpose of the sales to Gokhran was to maintain acceptable price levels, reported. Alrosa noted that their clients had been struggling economically last year.
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