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Russian Miner Alrosa Discovers 122-Carat Diamond

Russian diamond producer Alrosa has announced the discovery of a 122-carat diamond, the TASS news agency reported Thursday.

The diamond — weighing 121.96 carats — was extracted by the company's Aikhal Mining unit from the Jubilee pipe in the Far East republic of Sakha, TASS reported. Alrosa's Jubilee pipe is famous for its large diamonds.

Octahedral in shape, the super diamond measures 31.28 x 30.00 x 28.57 millimeters and is transparent with a slight yellowish color, Alrosa said.

"The diamond's value can be estimated at about $1.5 million," diamond expert Sergei Goryainov said, TASS reported.

Alrosa is among the most likely candidates for privatization this year, Economic Development Minister Alexei Ulyukayev said on Feb. 3.

The sale of state companies has been touted as a way to fill a gaping hole in budget revenues due to the low price of oil. Alrosa was included on an existing privatization plan and is already traded on stock markets, making it easier to sell, Ulyukayev said, according to the TASS news agency.

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