Alrosa Unearths Largest Gem-Quality Diamond in a Decade
Russian diamond giant Alrosa PJSC has made a remarkable discovery—a 390.7-carat diamond of extraordinary jewelry quality, the largest gem to be found in Russia in over a decade.
A Rare Find in Yakutia
This remarkable diamond, distinguished by its non-standard shape and encircled by a distinct yellow-brown halo, was unearthed at the Mayat mine in Yakutia, Russia. It stands as a testament to Alrosa’s unwavering commitment to excellence in diamond mining.
Unique in Mass, Shape, and Color
Alrosa describes this stone as truly unique, boasting a combination of mass, shape, and color that sets it apart as an exceptional discovery in the world of gem-quality diamonds.
Challenges Amid Sanctions
Despite this remarkable achievement, Alrosa faces challenges due to sanctions linked to the Russian invasion of Ukraine. These sanctions have resulted in restrictions on the import of Russian gem-quality diamonds in countries like the US and UK. Consequently, the sale of this extraordinary gem may encounter obstacles due to these international restrictions.
Shifting Dynamics in the Diamond Trade
Efforts to halt the sale of Russian gems in Europe have met resistance from importing nations like Belgium, who argue that such restrictions would simply redirect the trade elsewhere. Nevertheless, there is growing speculation that G-7 nations and the EU will announce further restrictions in the coming month.
Alrosa, a state-controlled entity that rivals industry leader De Beers in diamond production, has adapted to these challenges by redirecting its sales efforts to Asia, particularly India, after its sales were initially impacted by US sanctions.
The discovery of this extraordinary diamond underscores Alrosa’s dedication to excellence in diamond mining, even in the face of complex geopolitical dynamics.
