Alrosa makes $90m in Israel

World’s top diamond producer by output Alrosa (MCX:ALRS) made $90 million in six auctions held in Israel this year.

The auctions were for large rough diamonds, with the latest one focusing on special size gems larger than 10.8 carats — and it fetched $17 million. 100 companies from Israel, Belgium, Hong Kong, India, UAE, the US, and Russia were invited to participate, and 44 took home the coveted stones.

In a press release, the Russian miner said that during the November 4-22 auction, 105 gem-quality rough diamonds were sold with a total weight of 1906 carats.

"The results of this year's last auction in Israel confirm the stable demand for our products in this country — the total starting price has been significantly exceeded," Evgeny Agureev, Director of the USO ALROSA, said in a media brief.