ALROSA To Hold Auction Of Large Diamonds In Israel

Alrosa 83.5 carat rough diamond

Alrosa the world’s largest diamond miner, will hold an auction for the sale of special size rough diamonds weighing over 10.8 carats in Israel from August 19 to September 6.

The company will auction 202 gem quality rough diamonds with a total weight of 3,165 carats. About 100 companies from Israel, Belgium, India, Hong Kong and Russia were invited to participate in the auction.

“The end of summer is traditionally a good time for auctions the demand for rough diamonds is growing. It is also relevant for Israel where our goods are always in demand and most local companies specialize in large size rough diamonds. According to all these factors we made changes to our plans and increased the number of stones for the sale. Now we look forward to a high demand for our diamonds and good results of the auction,” said Evgeny Agureev, a Member of the Executive committee, Director of the USO ALROSA.

Under Russian law, diamonds of special sizes weighing over 10.8 carats can only be sold at auctions.

ALROSA will hold another auction in Israel in November.

Source: IDEX Online

Lucapa gets another $2 million from Lulo diamonds sale

Lucapa Rough Diamonds

Lucapa Diamonds said it had made USD $2 million after selling rough diamonds recovered at its prolific Lulo mine in Angola.

Sale has taken gross sales proceeds from the Angola based mine so far this year to $15.9 million.

Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa all partners in th emine have sold 1,782 carats at an average price of $1,150 per carat.

The mine is  located 150km from Alrosa’s Catoca mine the world’s fourth largest diamond mine, hosts type 2a diamonds which account for less than 1% of global supply.

Angola is now the world’s forth largest diamond producer by value and sixth by volume.