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Russia's Alrosa Eyes Rising Diamond Stocks
The Russian state mining company OAO Alrosa has determined that purchasing shares in diamond production companies is the surest way for investors to benefit from rising gem prices, Bloomberg Businessweek reported.
Chief of market analysis at Alrosa Leonid Tolpezhnikov said that despite potential economic upheaval in some developed countries in the coming year, rough diamond prices may continue to climb another 4%, after four years of continuous gains. Diamonds were valued at $132 a carat on average in 2011, a gain of 24% over the previous year. In both 2010 and 2009, gains of 32% per annum were recorded.
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