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Alrosa Plans to Dominate Colored-Diamond Market

Jul 15, 2018 9:44 AM   By Leah Meirovich
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RAPAPORT... Alrosa is planning to become the world’s largest producer of polished colored diamonds, with the entire mine-to-customer process handled in-house.

“We think we will be able to integrate into this segment and even dominate it,” a company spokesperson told Rapaport News Sunday. “As Alrosa is the largest diamond miner, it is reasonable to expect today [that] we are the largest miner of colored rough diamonds as well.”

While polishing is currently only a small part of its business, the Russia-based miner launched this division several years ago. Last year, the company began focusing intensively on cutting unusual diamonds.

“We have enough experience to work with colored stones,” the spokesperson added. “We have a very strong cutting division, rich traditions and unique masters who still remember what a real Russian cut is.”

Alrosa is currently working on cutting and polishing a large assortment of colored diamonds from its mines, including yellow, turquoise, purple and pink stones. The miner will debut the collection in September at the Hong Kong Gem & Jewellery Fair, after which the stones will go up for auction.

One of Alrosa’s most prominent colored diamonds is a 27.85-carat pink stone (pictured), which it recovered last year. The nearly inclusion-free gem is the largest pink the company has ever found, and is expected to fetch approximately $500,000 per carat at auction. It is the most expensive rough in the history of Russian diamond mining, Alrosa claims.

The company is cutting and polishing the pink diamond through its Diamonds Alrosa enterprise, with the assistance of an international consultant. The stone will not be finished in time for the upcoming September auction, but will be sold at a later tender.

One potential advantage Alrosa sees is that the polished stone’s origin is completely transparent.

“The buyer knows for sure that this stone has a clean history, because it was mined in Russia and never passed [to a third party],” the spokesperson noted.
Tags: Alrosa, colored diamond, Diamonds Alrosa, Hong Kong Gem & Jewellery Fair, Leah Meirovich, Rapaport News
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