ALROSA Sells $2.4 Billion in H1 But Lowers Outlook For Year

September 17, 12 by IDEX Online Staff Reporter

(IDEX Online News) - Russian mining major ALROSA announced on September 14 that it had sold 16.4 million carats of rough diamonds worth $2.4 billion over the first six months of this year. The company said however, that it had experienced a slump in demand that began in March and ran through August. This had caused it to lower its sales forecast for the whole year to $4.5 billion.

Last year, ALROSA produced 34.6 million carats of rough which sold for $4.5 billion.

Alrosa says that its long-term outlook is bright given the growth in demand for diamond jewelry and the falling output from mines. The company said its executive committee looked at the feasibility of boosting the output of its Lomonosov project from one to four million tons of ore per year. It also said that its Almazy Anabara project could reach an annual output of 28 million carats by 2021.

Diamond Index

ALROSA Sells $2.4 Billion in H1 But Lowers Outlook For Year

Methane Blamed for Alrosa Diamond Mine Blast

Alrosa Sells 80% of Goods at First Auction of +10ct Diamonds in New York

Alrosa Prices Up 5% in Q1

Newsletter