Alrosa Finds Giant Gem Quality Pink Diamond

Alrosa Finds Giant Gem Quality Pink Diamond

Alrosa Finds Giant Gem Quality Pink Diamond

MCX:ALRS, $BID

Russia’s Alrosa (MCX:ALRS), the world’s #1 diamond producer by output in carats, has unearthed 27.85-carat Pink precious stone the company believes could be the most expensive it has ever found.

Alrosa is trying to decide on whether to sell this Pink stone as a rough diamond, or cut and polish it.

The miner, majority-owned by the Russian government, said the gem-quality stone was found at its alluvial mines in Russia’s Far East, adding that the largest Pink diamond it had previously discovered was less than 4 carats in weight.

The impressive pink rock, measuring 22.47 mm x 15.69 mm x 10.9 mm, has very few flaws and could become the company’s most expensive polished diamond if it decides to cut it, Alrosa said.

Colored diamonds, especially Pink ones, have been lately setting records in auctions.

In April, Sotheby’s (NYSE:BID) sold a 59.6-carat 1 dubbed the ‘‘Pink Star’’ for $71.2-M. Until then, the most expensive diamond ever sold at auction was the “Oppenheimer Blue,” which fetched 56.8-M Swiss francs (more than $57% at the time) in May 2016.

The previous world auction record for a Pink diamond was $46.2% for the 24.78 carat “Graff Pink” in Y 2010.

Alrosa noted that it is currently trying to decide on whether to sell this Pink stone as a rough diamond, or cut and polish it.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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