Alrosa Sales $2.6 Billion in first Eight Months

Russian diamond monopoly Alrosa sold $2.57 billion worth of polished and rough diamonds in the first eight months of 2010, the company disclosed Monday morning. In September, it expects sales of $215 million.

For the year, Alrosa aimed to reach diamond sales of $3 billion, a goal it now estimates it will suppress by $344 million.

The figures were reported during an executive meeting focused on long-term plans. By the end of 2010, Alrosa plans to reduce its debt to $3.2 billion. At that time, it projects that 90 percent of financing will be long-term loans.