Alrosa 2009 Sales $2.19 billion, to Offer Foreign Currency Bonds in 2010

Alrosa, Russia’s largest diamond miner, may sell up to $1.45 billion in foreign-currency bonds in the second quarter of next year, the diamond miner’s executive board decided during a supervisory board meeting on Tuesday. Alrosa did not say for what purpose it is raising the money.

The company also made official changes to its board. Alexander A. Akhpolov, director of the Russian Finance Ministry Administrative Department will serve as vice chairman of the Alrosa’s board. Resignations by Alexei Veselkov, former managing director, Galina Klimenko and Anatoly Popov, former vice-presidents were confirmed. Alrosa Vice President Yuri Okoyomov was confirmed as a new member of the board.

Alrosa released it’s anticipated financial and production results for 2009. Aggregate rough diamonds in terms of value amounted to $ 2.24 billion, rough and polished diamond sales totaled $2.19 billion and an overall net profit of $106 million is expected.

The company also reiterated its target-figures for next year. In 2010, Alrosa expects its output to reach $2.31 billion and forecasts diamond sales to hit $3.3 billion, the statement said.