Alrosa Boss Sells Half His Shares to Fight Coronavirus

(IDEX Online) - The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus.

The sale of Sergey Ivanov's shares raised RUB18.5m ($240,000) and will help counter the spread of Covid-19 in the Siberian town of Mirny.

Most of the town's 35,000 residents work for Alrosa, the state-owned mining company which is the world's largest producer of rough carats.

Mr Ivanov said: "All proceeds from the sale will be used to pay for medicines, medical and personal protection equipment for Mirny district of Yakutia.

"I understand that today is not an ideal moment for selling shares. However, under current circumstances the speed of procurement of scarce medical supplies becomes crucial. Paying from personal account makes purchasing easier and faster."