Alrosa Net Profits $240 Million

The Russian miner Alrosa posted $240 million in net profits last year, down almost 30 percent from $340 million profits in 2001, company president Vladimir Kalitin reported today.

Alrosa produced $1.4 billion worth of rough diamonds during the year, 2.8 percent above target. The company sales stood at $1.6 billion in 2002, of which $106 million came from the sale of polished diamonds. The miner also increased capital investment in 2002 by 20 percent.