Diamond Buyers Club

World’s top diamond producer by output Alrosa (MCX:ALRS) made $90 million in six auctions held in Israel this year.

The auctions were for large rough diamonds, with the latest one focusing on special size gems larger than 10.8 carats and fetching $17 million. Even though 100 companies from Israel, Belgium, Hong Kong, India, UAE, the US, and Russia were invited to participate, 44 took home the coveted stones.

In a press release, the Russian miner said that only in the November 4-22 auction, 105 gem-quality rough diamonds were sold with a total weight of 1906 carats.

"The results of this year's last auction in Israel confirm the stable demand for our products in this country – the total starting price has been significantly exceeded," Evgeny Agureev, Director of the USO ALROSA, said in the media brief.

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