ALROSA Launches First 'True Colours' Auction Of Large Colored Diamonds

(IDEX Online) – ALROSA, the largest diamond mining company in the world, presented the first of its kind collection of large colored diamonds at the Hong Kong Jewelry & Gem Fair.

The company said it was part of a new strategy to become the world leader in the production of colored polished diamonds.

"ALROSA's polished branch now focuses on the processing of large and colored diamonds and subsequent sales," said Evgeny Agureev, Director of the United Selling Organization of ALROSA. "We are the world's largest producer of diamonds, and that gives reason to believe that we are also ahead in terms of colored rough diamond production. Today, ALROSA produces at least 7,000 carats of colored diamonds per year. We have all it takes to dominate the market of colored diamonds. The collection presented in Hong Kong demonstrates our capabilities."

The collection showcased in Hong Kong comprised of 250 diamonds of different shapes and hues. The diamonds are part of the “True Colours” auction scheduled for 19 September. The company plans to run the “True Colours” auction regularly.

The key stones of the collection, which are expected to be the most expensive lots, include an 11-carat diamond of rare yellow hue (fancy vivid yellow), an orange-yellow oval diamond of over 15 carats and a 11-carat cushion of noble purple color (deep purple-pink). According to the Gemological Institute of America (GIA), the most authoritative organization in its field, the Deep Purple is the largest diamond of this color ever graded by GIA.

Colored diamonds are found in all deposits of ALROSA, but two areas have the greatest reserves – the alluvial mines of JSC Anabar Diamonds in Yakutia, and the open pit of PJSC Severalmaz in the Arkhangelsk region.

This year, ALROSA has started sorting colored diamonds according to a new technology, that includes almost all hues and color grades. Most of these diamonds are processed by ALROSA DIAMONDS - the company's in-house polished branch.

"One of ALROSA’s competitive edges is the in-house lapidary division, which gives us the opportunity to trace the history of each diamond from mine to market. Our diamonds enjoy a sterling reputation and comply with the highest ethical and environmental standards. We invest in our diamond cutters, providing extensive training and opportunities for professional development. This allows us to keep the tradition of the highest quality of gem cutting," added Agureev.