ALROSA Q3 Production Reaches 11.6 Million Carats
October 22, 15
(IDEX Online News) – Russian mining company ALROSA reported that during the third quarter of the year, Diamond production totalled 11.6 million carats compared to 9.7 million carats in the same quarter of 2014.
During the first nine months of the year, the company’s diamond production totalled 29.6 million carats, a 16-percent year-over-year increase over the 25.7 million carats produced in 2014.
The company said the rise was driven primarily by growth in production at the Mir underground mine, diamond output growth at Karpinskogo-1 pipe of Lomonosov deposit (Severalmaz), continued mining operations at the Botuobinskaya pipe, which was commissioned in the first quarter of the year and the Udachny underground mine development.
During the first nine months of the year, ALROSA sold 23 million carats of diamonds with revenue from rough diamond sales set to reach at least $2.7 billion.
In the third quarter, ALROSA sold 4.9 million carats of diamonds, including 3 million carats of gem-quality diamonds, at an average price of $182 per carat, and 1.9 million carats of industrial diamonds at an average price of $9 per carat.
Preliminary revenue from rough diamond sales during the quarter exceeded $550 million.
During the third quarter, ALROSA's rough diamond prices dropped 8 percent in line with the slowdown in the diamond market.
The company confirmed its previously announced production plan of 38 million carats.