Alrosa to Hold 2nd Diamond Auction, Plans to Open US Office

Alrosa is planning a diamond auction for bigger goods sometime during the first quarter of 2004. The auction will be open to international buyers.

The Russian diamond miner will offer rough diamonds weighing 10.8 carat and bigger. If the auction will be held in the same manner as the first one in September, non-Russian diamantaires will be invited to participate, meaning it will not be open to every interested company.

According to the Russian press, the date of the auction will depend on how quickly bidders file their applications.

In additional news, Alrosa President Vladimir Kalitin revealed plans for the company to open an office in the United States.

Kalitin told the Russian news agency Interfax that opening an office in the US is a top priority, but did not specify when or will the miner offer rough diamonds to American diamond polishers.

Kalitin wants to bring Alrosa to a leading position in the global diamond centers, including entering the Chinese and Indian markets.