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Gabon courts foreign investors to grow fledgling diamond sector

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ALROSA's diamond sales in September 2019 fell by 23.6% y-o-y

11 october 2019

ALROSA Group has announced diamond sales results for September and nine months of 2019.
In September, ALROSA Group sold $258.7 million worth of rough and polished diamonds. Rough diamond sales by value amounted to $256.5 million, polished diamond sales―$2.2 million, which shows a decrease of 23,6% compared to the previous year when the company’s sales of rough and polished diamonds stood at $338.7 million.  

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Image credit: ALROSA


In value terms, sales of rough diamonds amounted to $256.5 million, polished diamonds - $ 2.2 million, while last year the company’s rough sales stood at $331.6 million and sales of polished diamonds - at $7.1 million. However, this month's figures have increased compared to August this year, when the company sold rough diamonds for $180.2 million, and polished diamonds sales were at $1.5 million.
ALROSA’s total rough and polished diamond sales in January-September 2019 amounted to $2,422.2 million which is down from $3.662 billion last year. 
During the nine months of 2019, rough diamonds were sold for $2,385.4 million, polished diamonds―for $36.8 million.
“September sales were higher than sales in the three previous months. It is partly due to the traditional autumn market revival after the holiday period and a slight increase in demand from Indian cutters and polishers ahead of the Diwali festival. The most noticeably increased sales of small-size rough diamonds. In addition, some sales from the August session, which started later than usual, moved to September. The market is still facing low demand for rough diamonds, though there has been a gradual recovery for some categories of diamonds. We still believe that it will take some time to get a balance between supply and demand,” commented on September sales ALROSA Deputy CEO Evgeny Agureev.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg