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ALROSA earned $45.7 million following two auctions of special sized diamonds

10 may 2012

OJSC AK ALROSA has sold rough diamonds of special sizes (weighing 10.8 carats and more) worth a total of $45.7 million at two auctions, reported citing the company’s statement.
Diamond auction #50 held in Moscow on 27 April 2012, featured 19,000 carats of rough diamonds mined by AK ALROSA and OJSC ALROSA-Nyurba,  formed in 321 lots. The sale was attended by 76 companies from Russia, Belgium, Israel, India, China, UAE and USA.
A total of 1,164 rough stones were put on sale, while the largest stone weighed 100.87 carats. ALROSA noted that 297 lots were sold for a total of approximately $40 million, starting prices having been exceeded by about 73%.
Within the scope of another auction #50I, which took place in Ramat-Gan, Israel, the company offered 25 diamonds produced by ALROSA (RTS: ALRS) weighing in the aggregate 500 carats, grouped in 25 lots, the largest stone weighing 54.9 carats. Representatives of 107 companies from Israel, Belgium, India, China, UAE and USA, specialized in trade in large diamonds took part in the auction. All 25 lots were sold out yielding $5.7 million, having exceeded reserved prices by 95%.
Previously ALROSA held three diamond sales of 49 series – on 17 February in Moscow, on 28 February in Hong Kong and on 13 March in Antwerp having realized rough stones worth $67.1 million, which accounted for about 5.6% of the company’s aggregate earnings for the first quarter of 2012.
This year ALROSA scheduled nine more auctions of special sized rough diamonds.
The last auction of 50 series featuring stones of ALROSA will taker place on 22 May in Antwerp. The only auction of 51 series offering diamonds mined by both ALROSA and ALROSA-Nyurba is slated on 15 June in Moscow.
On 20 and 31 July ALROSA will hold sales of 52 series in Moscow and Antwerp offering diamonds mined by ALROSA, ALROSA-Nyurba and Severalmaz. On 19 September, 2012, the company slated two rough sales of 53 series in New-York and Moscow (featuring goods of ALROSA and Almazy Anabara). Two more auctions of 53 series to take place in Hong Kong and Antwerp on 2 and 16 October, accordingly, whereby rough stock of ALROSA to be put for sale.
The final auction of rough diamonds by ALROSA and ALROSA-Nyurba in 2012 is scheduled on 23 November in Moscow.