Alrosa tenders more than $2 million of polished in Israel

Alrosa, the world's leading diamond miner in volume, held an exclusive tender of polished diamonds in Israel. The tendered diamonds were all cut and polished by Alrosa's own manufacturing plants that operate under the supervision of the company's cutting division, DIAMONDS ALROSA, which also organized the tender.

In Israel, the company sold 14 polished diamonds at a total weight of 108 carats, as well as 48 fancy colored polished diamonds weighing 131.6 carats in total. The overall revenue of the sale came to $2.2 million. Firms from Belgium, Hong Kong, India, Israel, Russia and the USA participated in the tender.

"There is a continued interest in large polished diamonds over three carats in the market," said Pavel Vinikhin, Director of the DIAMONDS ALROSA cutting division. "Our assortment mostly consists of such stones. In Israel, we presented polished diamonds of different colors and cuts. Despite the relatively weak market, the auction went well, and we are pleased with the results,"

At a press conference in Las Vegas, earlier this month, Alrosa officlas made it clear that it will be stepping up both the pace and the volume of its in house cutting and polishing. As it is concluding the take-over of Kristall of Smolenks, the largest polishing plant in Europe, the company said it is looking to increase its it production capacities. This may be achieved by either re-opening and upgrading existing facilities or by setting up new factories.

In the coming fall, ALROSA plans to hold another polished diamond tender in Israel. In addition, two tenders are scheduled in the United States, one of which will take place this summer and one in fall. Also, Alrosa will holds its traditional , much bigger tender for polished diamonds adjacent to the Hong Kong Gem & Jewellery Fair in Hong Kong in coming September.