Alrosa to sell 127 large gem-quality rough diamonds at an auction in Israel

Russia’s diamond mining company Alrosa will put for the auction 127 large gem-quality rough diamonds with total weight of 2,244 carats at the auction in Ramat Gan, Israel, on November 4-22, the company said in a press release.

According to the press release, at the auction the company will put special size rough diamonds (over 10.8 carats) and polished diamonds of own manufacture.

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

"The upcoming auction will be the last one planned by Alrosa in Israel this year, and we hope that, as in previous cases, our products will be in high demand among participants," Evgeny Agureev, the member of the Executive committee, Director of the USO Alrosa, said as quoted by the press release.

The results of the auction will be announced on November 26.

Alrosa is engaged in the exploration, extraction, production and sale of diamonds. It produces diamonds in the Republic of Sakha (Yakutia) and the Arkhangelsk region.

The shareholders of Alrosa are currently the Russian Federation - 33.02%, the Republic of Sakha (Yakutia) - 25%, districts of Yakutia - 8%, while 34% of shares are in free float.

USO Alrosa is the Unified Sales Organization of Alrosa, which sorts, evaluates and sells diamonds mined at Alrosa enterprises.