Weak markets force Alrosa to dump stock in state repository for the first time since 2009

Alrosa sold rough diamonds to the Russian state gem repository Gokhran in 2Q 2012, according to a report from the company.

The exact size of the sale was not disclosed, but it is known that Alrosa's board had approved selling up to $130 million worth of rough diamonds.

These are Alrosa's first sales to Gokhran since the economic downturn hit in 2009.

Alrosa said the sales were a measure aimed at maintaining acceptable price levels as the company's clients signaled that they were experiencing financial trouble in 2H 2011.

Source: Diamond.Net via BrightWire News