Russian state sells diamonds worth $17.9 mln
MOSCOW. April 23. KAZINFORM Russia's State Precious Metals and Gems Repository auctioned 572 large-size raw diamonds for $17.87 million on Tuesday, a Finance Ministry source said.
The open domestic auction included a total of 709 diamonds weighing over 10.8 carats (2.16 grams) and attracted 38 diamond-cutting firms.
"It was the first auction this year, with 709 individual lots offered [with total weight of 11,592 carats or 2.32 kilograms]," the source said.
"If all participants of the auction pay the bidding price, we will fulfill our sales plan for this year by 250 percent," the official said.
At a similar auction in March 2012, the repository sold 525 raw diamonds weighing 12,056 carats (2.41 kg) for over $26 million, according to RIA Novosti.
Russia is believed to have the largest diamond deposits in the world. The principal producer regions are Yakutia, also known as the Sakha Republic, Perm and Arkhangelsk.