Gokhran of Russia and diamond mining company ALROSA have agreed on a deal to sell a batch of rough diamonds to the State Fund by the end of this year.
The batch of precious stones purchased by Gokhran of Russia will include gem-quality diamonds of various colour and quality characteristics, including a 390-carat stone, the largest diamond produced in the country over the past 10 years. It was discovered at the Ebelyakh site of the Mayat mine in Yakutia in September 2023.
“Russian diamonds, which are valued all over the world, will replenish the main treasury of our country. The intention of Gokhran of Russia to purchase precious stones mined by ALROSA demonstrates the state's confidence that their value will continue to grow, since natural diamonds of unique and exceptional characteristics are becoming increasingly rare every year,” ALROSA CEO Pavel Marinychev commented on the deal.
The state will spend up to 154.5 billion rubles ($1.55 billion) for the purchase of precious metals and gemstones to Gokhran in its 2025-2027 federal budget. In March, the Ministry of Finance announced the first purchase of ALROSA diamonds for 2024, the transaction took place in the same month.
Theodor Lisovoy, Managing Editor, Rough&Polished
