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Diamond Processing: The polished diamond production is concentrated in the Republic of Russia in Kiev, Smolensk and Moscow, amongst others. Only 30 to 40 per cent polished diamonds are produced in other Republics like Ukraine and Armenia. For these factories to remain operative, they need rough which could be supplied, as happened in the past, by the Russian State Corporation Almazzoloto. Wholesale druzy Jewellery
Russia is an important diamond pro(;essing centre, Its cut and finish- is, of very high standard and the goods are readily picked up in the world market.
Moscow, Leningrad, Kiev and Smolnsk,are the main processing centres. More Polished Production: Wholesale dictoric Jewellery Alrosa, the state-controlled Russian diamond mining company plans to increase its production of polished diamonds to $150 million annually according to Alrosa's President, Vladimir Kalitin, Earlier this year (2004) Alrosa had said that it planned to produce $137.1 rnillion worth of polished diamonds in 2004, up from $123.4 million in 2003.

Immense Demand: Alrosa invested a total of $3.3 billion in the development of its diamond business, with more than half of the investments made during the past three years. The company considers the domestic market as the most promising because there is immense demand for diamonds in Russia.

Increased Rough Production: In 2004, Alrosa plans to extract $1.856 billion worth of rough diamonds.

In Rough Auction: Russian state-controlled diamond company - Alrosa has sold diamonds worth over $14 million at its third international auction of diamonds in 2004. Wholesale gemstone pendents by weight

According to the Alrosa statement, 54 parcels were offered to bidders with an overall weight of over 7,500 carats. The largest diamond in the sale weighed 98 carats.

The auction, which was conducted in Moscow from May 11 to June 16, 2004 attracted 40 foreign bidders.