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Monday, December 10, 2012

Alrosa to Continue Auctions of Rough in Israel

Alrosa to continue holding auctions of rough in Israel in 2013

Ramat Gan, December 3, 2012 - Alrosa, Russia's largest diamond mining corporation and one of the world's leading producers of rough diamonds, is planning to expand its sales activity in Israel. In 2013, Alrosa is expected to hold several auctions for rough diamonds larger than 10.8 carats in Ramat Gan's diamond exchange complex.

During 2012, Alrosa already held two successful auctions for rough diamonds of 10.8 carats and up in Israel. These auctions were the result of a number of meetings, held both in Moscow and in Israel, between Yuri Okoyomov, vice-president of Alrosa and Yair Sahar, president of the Israel Diamond Exchange (IDE).

In light of the satisfactory outcome of these auctions and Alrosa's recognition that the Israeli diamond center is an attractive hub for the trade in rough and polished diamonds, and following further discussions between Mr. Okoyomov and Mr. Sahar, Alrosa has indicated it intends to continue with auctions for rough diamonds of 10.8 carats and up in Israel also in 2013.

IDE president Yair Sahar expressed his satisfaction with Alrosa's position.
"We're very pleased with Alrosa's decision to auction more rough in Israel. It offers further proof of Israel's wide ranging expertise and versatility in diamond manufacturing and trading. We look forward to strengthening our industry's relationship with Alrosa further," Sahar stated.

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