Russian diamond giant Alrosa finds biggest jewellery gem in decade
DIAMOND giant Alrosa said it mined a 390.7-carat diamond of jewellery quality, the largest to be recovered in Russia in a decade.
The company, which is under sanctions linked to the Russian invasion of Ukraine, found the diamond at the Mayat mine in Yakutia.
The stone is of non-standard shape and bordered by a yellow-brown halo, the company said on Sunday (Sep 10). It is also the largest gem-quality diamond mined in Russia since 2013.
“A combination of mass, shape and colour makes the stone unique,” Alrosa said.
State-controlled Alrosa, which produces about the same amount of gems as industry leader De Beers, has in recent years focused on cutting and marketing its largest gems in international auction houses, including Christie’s.
Sanctions imposed by countries such as the US and the UK, prohibiting the import of Russian gem-quality diamonds, could hamper any potential sale of the newly recovered stone.
Attempts to stop the sale of Russian gems in Europe have been met with resistance from importer nations, such as Belgium. They argue that implementing such a ban would simply shift the trade elsewhere.
But there is growing speculation that G7 nations – Canada, France, Germany, Italy, Japan, the US and the UK – as well as the EU will announce further restrictions this month.
Alrosa’s sales took a hit after US sanctions were first announced, but recovered by shifting volumes to Asia, mainly India.
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