But there are questions over privatisation of mining giant Alrosa, the world's largest producer.
The Jubilee pipe is famous for its large finds. Picture: Alrosa
The large diamond of 121.96 carats - and worth around $1.5 million - is from the Jubilee kimberlite pipe in the Sakha Republic, also known as Yakutia, the largest constituent of the Russian Federation.
'The diamond has an octahedral shape, its dimensions are 31.28 x 30.00 x 28.57 mm,' announced Alrosa.
Its quality is 'transparent with moderate yellowish hue. There are small olivine, graphite and sulphide inclusions in this crystal'.
The Jubilee pipe is famous for its large finds. It was extracted by the company's business unit Aikhal Mining and Processing Division (MPD) at the Yubileinaya mine.
The announcement - ahead of Valentine's Day- came as Alrosa announced a 10% profit decline in 2015. This was despite a 16% increase in revenue.
The diamond is 121.96 carats and worth around $1.5 million. Pictures: Alrosa
Deputy Russian Prime Minister Yury Trutnev said in regional capital Yautsk this week that Alrosa was undervalued for privatisation purposes.
'Take any textbook on investing, go to the very first page and there it will ask you: when should you sell shares? Answer - when they are at their peak,' he said.
'And what do we have in the world market today? It's in a trough. Are we going to sell at bottom? The question is, have we chosen the right time for this?'
Trutnev is Russian president Vladimir Putin's envoy to the Far Eastern Federal District.
Comments (2)
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