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ALROSA Tests Small Rough at Vladivostok

Dec 1, 2016 4:08 AM   By Rapaport News
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RAPAPORT... ALROSA garnered $5 million from its second sale of rough diamonds at the recently opened Eurasian Diamond Centre (EDC) in Vladivostok.

Held from November 21 to 25, the sale featured average and smaller-sized goods, including industrial diamonds, the Russian miner said.

ALROSA offered the stones in “test mode” and assessed the trading session as “successful,” according to vice-president Yury Okoemov.

The company said it plans to start quarterly sales of “special-size” rough diamonds on the EDC trading platform early next year .

ALROSA chose to open a branch in Vladivostok, which is about 65 kilometers from Russia’s border with China, with a view to boosting its sales to the Asia-Pacific region. The first diamond sale was held in early September, with the Russian news agency TASS reporting the event fetched $18 million.

Annual revenue from the EDC could reach $100 million to $150 million, ALROSA president Andrey Zharkov told the Rossiya 24 television channel Wednesday, according to a TASS report. ALROSA’s group sales so far this year are well ahead of that in 2015, with third-quarter revenue jumping 70 percent and sales in the first nine months growing 48 percent.

The miner plans to increase its total diamond production next year by 5 percent to 38.85 million carats, TASS cited Zharkov as saying. Production guidance for 2016 is 37 million carats.
Tags: Alrosa, EDC, Eurasian Diamond Centre, mining, Rapaport News, Vladivostok
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