Alrosa Sells $1 Billion in Rough Diamonds to Gokhran

Alrosa has now sold 30 billion rubles ($1 billion) worth of diamonds to the Russian state repository Gokhran, the president of Yakutia said. Alrosa has been selling rough diamonds to Gokhran at large quantities since the economic crisis hit the diamond industry last year.

Yakutia, the Russian republic where Alrosa is headquartered, holds a minority stake in the diamond mining company.

Vyacheslav Shtyrov, president of Yakutia, reported the sales figures during a meeting with Russian Prime Minister Vladimir Putin Monday evening, according to an Interfax report.

“Diamonds are being sold and mining has stabilized,” Shtyrov said. “We've received the 30 billion rubles from sales to the State Fund [Gokhran].”