Alrosa PJSC, the company that produces the most diamondsin the world, has revealed that it has found a diamondof jewelry-grade quality that weighs 390.7 carats. This is the Russian diamond giant Alrosa discovered the decade's largest jewelry gem.
Alrosa PJSC Unearths Largest Jewelry-Grade Gem In A Decade
The company, which is currently being punished with sanctions as a result of Russia's invasion of Ukraine, was the one that made the discovery of the diamond. The mine at Mayat, which is located in Yakutia, is the reason for these sanctions.
The company issued a statement on Sunday indicating that the stone is a non-standard shape and is encircled on all sides by a yellow-brown halo. The statement also indicated that the shape of the stone was unique.
It was discovered in 2013, and ever since then, it has held the title of being Russia's largest diamond of gem quality that was dug up from the ground. Since 2013, it has maintained its position as the leader in this field.
Alrosa stated in a statement that the diamond weighing 390.7 carats was extracted from one of the company's mines located in the Republic of Sakha. The area, which is more often referred to as Yakutia, may be found in the far east of Russia near the Arctic Ocean.
“„The found diamond is a light crystal of an irregular shape, bordered by a yellow-brown halo, a combination of mass, shape, and color that is unique today.- Alrosa
This explanation explains why the stone is so special.
The Cullinan diamond, which weighed 3,106 carats, was discovered in South Africa in the year 1905. It holds the record for the largest gem-quality diamond ever mined.
In recent years, state-controlled Alrosa, which produces approximately the same amount of stones as industry leader De Beers, has focused on cutting and promoting its largest diamonds in international auction houses such as Christie's.
This strategy has allowed Alrosa to compete with De Beers for market share in the diamond industry.
Alrosa's production of gems is approximately the same as De Beers'. Any prospective sale of the freshly recovered stone could be hampered by sanctions imposed by a number of nations, notably the United States and the United Kingdom, which restrict the import of diamonds of gem quality from Russia.
Importer nations in Europe, such as Belgium, have rejected moves to restrict the sale of Russian gems in Europe on the grounds that doing so would only compel the trade to migrate to another region.
This is one of the arguments that has been put forward by opponents of these measures.
This theory is backed by the fact that even if all sales of Russian diamonds in Europe were to be halted, the trade would still continue in some capacity.
But there is growing suspicionthat the G-7 nations and the EU will announce new limits this month. Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States are some of the countries that fall within this category.
After the United States made the initial announcement of the sanctions, Alrosa's revenues took significant damage; however, the firm was able to recover by transferring supplies to countries in Asia, with India being the most important of these.
According to the Times of India, the company reported last month a rise of 0.2% in revenue for the first half of the year, but it said net profit decreased 35% year-on-year to 55.6 billion roubles. This was according to the report that was published last month.