After a hiatus of over six months, Diamond Giant Alrosa resumes the sale of rough diamonds in the market in July, the Moscow Times reports.
The market is starting to recover from the global financial crisis, and the Diamond Giant reports sales of $150 million in uncut diamonds both foreign and domestic. Alrosa also sold diamonds worth $13 million at an auction in Moscow.
Much like Alrosa, the world's biggest diamond producer De Beers temporarily shut down its mines in Botswana and Namibia due to the crisis. Now business seems to be picking up, as Russia's largest diamond polisher PO Kristall has expressed its intention to buy at least $100 million worth of diamonds from Alrosa.