Russia’s Alrosa Finds its Largest Diamond in 2 Years+

Russia’s Alrosa Finds its Largest Diamond in 2 Years+

The world’s Top diamond producer by output, Alrosa, (MCX:ALRS) has unearthed a rough diamond weighing nearly 200 carats from its Udachnaya pipe, its largest find in more than 2 years.

The 191.46-carat stone, which is white with a slight yellowish tinge, measures 40 mm by 31 mm by 20 mm. It was found earlier this month at the processing plant No 12 of Udachny mining and processing division, the Russian miner said.The 191.46-carat diamond is the largest Alrosa has recovered in 1.5 years.

Alrosa last found a comparably sized diamond 2.5 years ago.

“Such large, gem-quality discoveries, weighing more than 100 carats, confirm that there are many unique precious minerals in the reserves of the Udachnaya kimberlite pipe,” United Sales Organization director, Evgeny Agureev, said in the statement.

Since the beginning of the development in Y 1967, Udachnaya has yielded hundreds of large diamonds.  The pipe was discovered in Y 1955 and ranks among the largest primary diamond deposits both in Yakutia and abroad.

The news comes on the heels of the miner’s diamond production and sales results for 2018 and Q-4 of Y 2018.

The figures showed that Alrosa produced 36.7-M carats, 7% less than in Y 2017, due to the shutdown of the Mir underground mine and the completion of open-pit mining at the Udachnaya pipe.

Alrosa sold 38.1-M carats during the year a drop of 8% Y-Y. Proceeds from sales in Y 2018 went down 6% to $4.5-B.

Diamond inventories at the end of 2018 dropped of 6% Y-Y to 17-M carats

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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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