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Russian government could buy rougher from Alrosa

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The Russian government could buy more rough diamonds from the state-run miner Alrosa, as it faces ongoing G7 sanctions and weak global demand.The Finance Ministry says it will assess the situation after seeing second quarter results.Alrosa last week reported a 77 per cent slump in profits for 2024 (down to $223m) and has said it could suspend some less profitable activities and lay off some of its 35,000 workers.

In December 2024, ALROSA, Russia’s leading diamond mining company, reached an agreement to sell a batch of rough diamonds to the Gokhran of Russia, the state repository for precious metals and gemstones. This batch included a notable 390-carat diamond, the largest discovered in Russia over the past decade, unearthed from the Ebelyakh deposit in Yakutia in September 2023.

This transaction occurred in the context of ongoing international sanctions and a global downturn in diamond demand, which have impacted ALROSA’s traditional sales channels. The Gokhran’s purchase provided financial support to ALROSA during these challenging times.

The Russian government has indicated plans to continue such purchases, with the federal budget allocating up to 154.5 billion rubles (approximately $1.55 billion) for acquiring precious metals and gemstones for the Gokhran between 2025 and 2027. Alrosa has previously offloaded excess inventory to Gokhran, the Russian State Precious Metals and Gemstones Repository in times of weak demand.

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Akoirah By Augmont Celebrates The Sibling Bond With Laboratory-Grown Diamond Rakhis

Contemporary, Customisable Rakhis Blend Traditional Symbolism With Modern Fine Jewellery Sensibilities For A Meaningful Raksha Bandhan Gift.

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This Raksha Bandhan, Akoirah by Augmont brings a contemporary expression to one of India’s most cherished celebrations with its new collection of laboratory-grown diamond rakhis, combining traditional symbolism with modern jewellery design. Created for the evolving Indian consumer who seeks meaningful and distinctive festive gifting, the collection transforms the traditional rakhi into a keepsake that goes beyond the occasion with customisable designs available in options such as initials, zodiac signs, and other personalised motifs tailored to individual style and preference.

The collection features an assortment of handcrafted designs incorporating meaningful motifs such as the evil eye, Swastika and Ik Onkar, alongside personalised initial-led designs. Each motif brings its own symbolism, representing protection, prosperity, faith and personal connection while laboratory-grown diamonds add a refined, contemporary touch to the traditional expression of siblinghood.

Designed across earthy and versatile colour palettes, the rakhis pair beaded elements in shades of black, brown and blue with diamond-studded motifs. From the understated elegance of a diamond initial rakhi to statement-making designs featuring the evil eye and spiritual symbols, the collection offers options that cater to different personalities and styles.

With this collection, Akoirah by Augmont seeks to elevate festive gifting by bringing fine jewellery sensibilities into a traditionally rooted celebration. The rakhis are designed not merely as festive accessories, but as meaningful pieces that can be cherished beyond Raksha Bandhan, reflecting the brand’s approach to making jewellery more personal, contemporary and relevant to everyday occasions.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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