Russia on Track to Become World’s Biggest Colored Diamonds Producer

Russia’s Alrosa, one of the world’s top diamond producers, is set to take the lead in the global colored-diamond market as the closure of Australia’s Argyle mine – currently the largest supplier of the precious rare stones – becomes imminent.

“[Following] the closure of the Argyle mine in Australia, we will become the world’s largest producer of colored diamonds and can, therefore, go after leadership in the colored diamond market,” the director of Alrosa’s cutting and polishing division, Pavel Vinikhin, said in an interview with TASS.

The Australian mine, widely regarded as the world’s number one source of treasurable pink gems, as well as other colored diamonds, is expected to close in late 2020 after more than 30 years of operation, due to the depletion of economically viable stones. The closure is expected to have an impact on the whole global diamond industry, and may also make Russia the top supplier of the most valuable stones.

Vinikhin explained that the company owns several assets rich in colored diamonds, such as Severalmaz and Almazy Anabara (Diamonds of Anabar). The latter is known for discovering a 14.83-carat vivid purple-pink diamond gem named ‘Spirit of the Rose’, which could become Russia’s most expensive gem.

Another fancy diamond in the company’s collection is the unique 20.69-carat ‘Firebird’ yellow gem, which was acquired by the world-renowned high-end jewelry brand Graff Diamonds last year. Alrosa did not reveal the final price tag for the rare precious stone, but it did note that it fetched one of the highest prices per carat for such a stone in recent years.

Earlier this week, Alrosa announced that it unearthed another yellow gem at its new Verkhne-Munskoye mine in Yakutia. The bright yellow diamond, weighing 17.44 carats, was found in mid-February and will undergo further evaluation.

Scroll to Top