Named “80 Years of Victory in the Great Patriotic War,” the diamond pays tribute to the 80th anniversary of the Soviet Union’s victory in World War II. “It is symbolic that it was found in the year of the 80th anniversary of the Great Victory,” said Alrosa CEO Pavel Marinychev. “We decided to name it in honour of such a significant event for our entire country.”
The discovery comes just weeks after Alrosa announced a previous record-breaking 100-carat diamond, “New Sun,” also unearthed this year.
The Mir mine, one of Russia’s most iconic diamond-producing sites, resumed operations after being closed in 2017 following a fatal flood that claimed eight lives. Alrosa has since invested 70 billion rubles ($762 million) to modernise the mine’s infrastructure and implement new safety measures. The company targets an annual production capacity of 2 million carats, with full operational scale expected by 2030 and the mine’s life projected through 2048.
Marinychev emphasised the socio-economic importance of the reopening, saying it would create jobs and bolster Russia’s position in the global diamond market. Alrosa currently accounts for 99.6% of Russia’s diamond output and nearly 30% of global supply.
The milestone comes amid growing international sanctions on Russian diamonds. Initially shielded from EU bans due to Belgium’s influential diamond industry, Russian stones are now facing phased restrictions under the EU’s 12th sanctions package. In response, Alrosa is expanding its footprint in Asia and the Middle East. Exports to Hong Kong jumped 18-fold in early 2024, while Dubai has emerged as a key alternative hub for Russian diamond trading.
As geopolitical tensions continue to reshape global trade dynamics, the reopening of the Mir mine and the discovery of this historic gem highlight both resilience and recalibration in Russia’s diamond industry.
