It also said it would hold an additional tender between trading sessions and would be buying stock from the state’s Gokhran later this month.
The diamond industry has rebounded since the start of the pandemic since locked-at-home consumers bought stones instead of travelling and kept buying as the economy strengthened. This trend pushed cutters to buy more roughs to restock and fulfil the orders placed by jewellers and retailers, Alrosa said.
“We believe that this innovation, together with the Gokhran auction slated for late February 2022, will speed up progress in addressing current market deficit,” deputy chief executive, Evgeny Aguree, said in the statement.
Alrosa’s sales revenue jumped by 49% to $4.2 billion last year as demand exceeded supply, helping it recover from the hit it took at the start of the covid-19 pandemic
The miner boosted production by 8% to 32.4 million carats by increasing output at deposits in Russia’s far east.
