During October – December, 2012, Russia’s State repository Gokhran anticipates to sell rough diamonds worth about RUR 4 billion at the local market, PRIME news agency were reported by a representative of the body.
“Since inception of 2012 we have sold rough diamonds and gemstones worth over RUR 1 billion, while we have to sell precious stones worth RUR 5 billion for the whole year. The market is unfavorable and severe at the moment, nobody wants to make purchases, but seasonal revival is expected in October. We will not organize auctions this year but rather will proceed with sales at the market,” – the source noted.
“Meanwhile, we have faced problems with procurements for the state fund. We organized an auction but nobody offered precious metals for purchase (either gold, or platinum, palladium, silver). I wonder who is going to offer metals at rates lower than the global market prices?” – Gokhran official added.
Since 2012 Gokhran was prohibited from advancing purchases but rather forced to acquire gold and other values subject to the provisions of Federal Law #94 on state procurement activities. Nowadays Gokhran has to organize auctions stipulating the winning bid to be the lowest priced offer.
“We merely could purchase 464,100 carats of rough diamonds from AK ALROSA, worth a total of RUR 3.48 billion. Certainly we were scolded for this having bought rough without an auction, but ALROSA actually has no competitors, moreover one cannot set a fixed price for rough diamonds,” – the official of Gokhran said.
In the middle of March the Russian Ministry of Finance conducted auction on the territory of Gokhran, offering special sized rough diamonds weighing 10.8 carats and more, to local companies. The auction yielded over $26.025 million.
As was previously reported, the Russian proposed budget for 2012-2014 stipulated sales of precious metals and gems worth RUR 11.43 billion from the State Repository, and procurement of the same in the volume of RUR 9.95 billion.
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