Alrosa Diamond Producer to Resume Market Rough Diamond Sales this Month

According to reports, Russia's giant diamond miner, Alrosa, has announced that it will resume the sale of rough diamonds this month. The company had suspended diamond sales due to the ongoing economic crisis.

Alrosa’s CEO Sergei Vybornov stated that the diamond miner has already signed contracts with five companies for rough diamond sales worth some $300 million by the end of the year.

Vybornov noted that market prices for rough diamonds currently stand at the mid-2007 level.