ALROSA Official Sees $14M-16M Monthly Diamond Sales in Vladivostok

(IDEX Online) – Yuri Okoemov, vice president of ALROSA, believes the Russian diamond mining giant will be selling around $14 million to $16 million from Vladivostok within two years.

The miner is to sell rough and polished diamonds in Russia's Far East.

"I do not think that initially there will be high volumes (of sales)," he said at a Eurasian Diamond Centre presentation.

"At the beginning, sales will amount to $7 million-$8 million, but the overall potential of the region is larger. We will create diamond cutting and processing facilities," Rough & Polished reported. "Our task is to, at least, double the amount of diamond sales in the region by 2018," he said.

Okoemov said that sales to Asia-Pacific countries, particularly China, would need to be boosted in order to achieve the target.

"We plan to use the geographical proximity to markets and better conditions within business development. We are focused on the organization of sales in Asia-Pacific countries and, above all, China, which despite temporary difficulties in the economy, remains one of the most interesting markets for luxury goods, including diamonds," Okoemov said.