ALROSA purchased over 80% of rough auctioned by Russia’s state repository Gokhran

ALROSA continues to cater to the demand for rough diamonds, as the market deficit remains amid global supply decrease and sustained consumer interest in diamond jewellery, the company said in a press statement released on Wednesday.
“Acting for the benefit of its long-term clients, who struggle to fulfil current orders due to shortages of rough diamonds, ALROSA purchased more than 80% of the diamonds offered by the Russian Ministry of Finance at an auction held on September 7,” the statement said.
“The Gokhran auction on September 7 demonstrates the Russian State’s continued support of the diamond market’s supply and demand balance. Current demand for medium and small-size goods that were tendered is strong. Experts from the Russian State Fund for Precious Metals and Stones (Gokhran) have done an excellent job to quickly prepare and organize this auction just in time. The number of participants was the highest on record, guaranteeing the fairest possible price level and ensuring that it was on par with the market. Just like in July, ALROSA purchased rough diamonds on behalf of its trusted clients – ALROSA ALLIANCE members. By participating in the Gokhran auction, we were able to partially compensate the diamonds shortage amid strong demand from clients,” commented Evgeny Agureev, Deputy CEO of ALROSA.

Vladimir Malakhov, Rough&Polished