Alrosa Reports 2012 Output at 34.4 Million Carats

The Alrosa group's total diamond sales were $4.61 billion, which was 4.1 percent higher than the 2011 figure of $4.45 billion. The miner's net profit under Russian Accounting Standards exceeded that of 2011 by 34.4 percent.

The Executive Committee also approved the establishment of new joint ventures to be engaged in prospecting and geologic exploration in African countries.

In particular, by June, an agreement will be signed with Angolan state-owned diamond mining company Endiama E.P. on establishing a joint venture for prospecting, exploration and operation of diamond deposits, to finalize the selection of diamond prospecting areas, and to work out a geological project statement and performance specifications for the creation of the design and estimate documentation.

Alrosa President President Fyodor Andreev held talks in Angola earlier this month with government and Endiama officials about participation in prospecting and exploration projects.

Geological material received by Alrosa's geological experts working in Angola has found evidence of a high possibility regarding the discovery of major primary deposits in the country.

The Executive Committee also approved the establishment of a joint venture in Botswana to be engaged in geological exploration aimed at searching for diamond deposits and subsequently obtaining the rights to mine them. A draft prospecting operations document is to be created by the fall of this year.