Alrosa Posts Jump in Revenues From Rough Sales in Q1

(IDEX Online) – Russian miner Alrosa reported a six-percent rise on the year in production to 7.9 million carats for the first quarter of this year.

The mining giant reported that preliminary sales of rough diamonds in the first quarter showed a jump of 24 percent on the year to at least $1.5 billion.

The production increase was primarily driven by improved ore grade at the Jubilee pipe, a rise in diamond production at the Aikhal underground mine and the International underground mine, and an increase in volumes of ore processed at the Arkhangelskaya pipe.

Alrosa sold 12.7 million carats of diamonds, including 9.5 million carats of gem-quality diamonds with an average price of $155 per carat, and 3.2 million carats of industrial diamonds with an average price of $12 per carat.

The firm noted “positive dynamics” in the diamond market in the first quarter and a rise in rough diamond prices of around 4 percent since the beginning of the year.