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03:10 GMT +3 hours23 December 2014
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Alrosa Finds 158 Carat Diamond Worth $1.5 Mln

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Russia’s largest diamond miner Alrosa discovered a unique diamond weighing 158.2 carats and worth over $1.5 million, the company said on Tuesday.

Russia’s largest diamond miner Alrosa discovered a unique diamond weighing 158.2 carats and worth over $1.5 million, the company said on Tuesday.

The diamond was found in September at diamond-mining factory No. 16 of the Nyurbinsk ore mining and processing enterprise in the Republic of Yakutia in Russia’s north-east.

“In the estimate of Alrosa’s specialists, this diamond may be sold for over $1.5 million at auction. This diamond, if it is processed, may also produce several quality diamonds, each of them worth over several hundred thousand U.S. dollars,” Alrosa said in a statement.

Alrosa is one of the world's largest diamond companies, accounting for about 28 percent of global production, and produces 97 percent of all diamonds in Russia. The company boasts proven diamond reserves that enable it to maintain diamond production for over 25 years.