Massive Diamond Discovered in Russia

June 16, 2016

Responsive image

Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, has unveiled the recovery of a 241.21 carat rough diamond from its Nyurbinsky open-pit mine in Russia.

The gem measures 38.64 millimeters by 27.34 millimeters by 25.46 millimeters and is translucent with a grey hue. Its intermediate and peripheral zones have cracks and contains graphite and sulphide inclusions, according to Alrosa.

The company said it is one of the largest rough diamonds recovered in the Russian Federation, and third largest found at the Nyurba Mining and Process Division.

Nyurba Mining and Process Division is one of Alrosa’s youngest divisions, which operates the Nakyn ore field and develops Nyurbinksy and Botuobinsky open-pit mines.

Aura’s Nuyrbinsky open-pit mine has been in operation since 2001. In January 2015, identified reserves totaled 36.9 million carats.

Year-to-date, shares of Alrosa have increased 26.47 percent—a $14.81 jump—to $70.75.

In other diamond news, the world’s largest diamond found by Lucara Diamond (TSX:LUC) last year could sell for $70 million at the Sotheby’s auction on June 29.

Last month, the Aurora fancy vivid green diamond set a record breaking price of $16.8 million at Christie’s Hong Kong Magnificent Jewels auction.

Don’t forget to follow us @INN_Resource for real-time news updates!

Get Our Expert Guide to Diamond Investing FREE!

Download this FREE Special Report, Investing in Stornoway Diamonds or Other Canadian Diamond Mines – Beyond the Diamond Price Calculator.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

The post Massive Diamond Discovered in Russia appeared first on Investing News Network.

Category: Diamond