Alrosa’s 2007 Production Rises 1.6% to $2.37 Billion

Russian diamond miner Alrosa announced Monday that its 2007 diamond production rose 1.6 percent year-over-year to $2.37 billion, according to Russian news service RDI Novosti.

Alrosa noted that its rough diamond sales had exceeded target figures by $11.6 million and sales from its polished diamonds by $9.6 million. Although overall rough prices rose in 2007, the miner said that the highest price growth was seen among large and premium quality diamonds.

In a recently released long-term development strategy report Alrosa forecasted its rough diamond sales to rise to $3.664 billion by 2015 and polished diamond sales to reach $210.6 million, including $21.7 million in polished sales by subsidiary Alrosa-Nyurba.

During a presentation at the Third Rough Diamond Conference in Israel in February, Alrosa President Sergey Vybornov revealed the company estimates its diamond reserve at $109.3 billion, which it expects to last for about 35 years.