Alrosa: $35 Million in Rough Diamond Sales in 10 Days

Russian diamond miner Alrosa is continuing to sale rough diamonds, reporting sales of $35 million worth of goods in the first ten days of August, the company announced. Alrosa renewed sales in July, selling $150 million worth of goods.

The company added that incoming Alrosa president, Fyodor Andreyev, is holding weekly working meetings with the company's top management. During one of these meetings, after hearing a report on the activities of Alrosa Diamonds, Andreyev instructed subsidiary companies to prepare with the Single Sales Organization proposals on prices and a mechanism for implementing sales.

Alrosa buyers are reporting confusion, telling IDEX Online they are not sure what is happening at the company these days. According to one regular Alrosa buyer, it is clear that different arms of the company are either not knowledgeable about another arm's activities, or they are purposely providing conflicting information.

Other issues discussed at the meetings covered company financial policies and Alrosa's hotel subsidiary.