Industry News by Nemesis

Rough Exports From the Russian Federation Went Up By 2% in 1H 2018

October 9, 2018

Exports of rough diamonds from Russia in the first half of 2018 reached 27.06 million carats, which is 2.3% higher than a year earlier, according to the Kimberley Process data published by Russia’s Ministry of Finance.

Thus, exports in the 2nd quarter of this year amounted to 13.42 million carats, which is 9.3% higher than in the same period last year (12.3 million carats).

ALROSA, which currently controls about 90% of Russian diamond production, sold 22.4 million carats of diamonds in the first half of the year (8% less than in January-June 2017).

As Interfax says, comparing the data of ALROSA and those of the Ministry of Finance it is possible to conclude that about 4.7 million carats of diamonds could have been exported during these six months from sources independent of ALROSA. These sources are independent diamond producer AGD Diamonds (the license holder developing the Grib diamond field in the Arkhangelsk Province) and Gokhran, which sells diamonds bought from ALROSA in the crisis of 2008-2009.

According to the Ministry of Finance, Russia’s diamond production in the first half of the year reached 20.19 million carats, which is 3% less than a year ago.

ALROSA produced 15.9 million carats of diamonds (a decline of 17%) in the first half of the year. Thus, AGD Diamonds could have produced about 4.3 million carats. AGD does not disclose production data, but earlier the CEO of Grib Diamonds, which a sales division, predicted that production at the Grib mine would be boosted to 4.9 million carats.

In the first half of the year, Belgium (where Antwerp is the home of the world's largest diamond bourses), was the largest buyer of Russian diamonds in terms of volume and value, having purchased 17.5 million carats. This is almost the same amount as one year ago.


Source: Rough&Polished

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