Alrosa Plans to Increase Diamond Production in Next 3 Years

Alrosa plans to produce 102.3 million carats of rough diamonds in the 2010-2012 period, expecting to generate $9.55 billion from rough diamond sales. The plan will be presented for approval to Alrosa’s annual general meeting in late June.

The 34 million carats at $3.18 billion average annual production is a proposed increase in production. In 2009, Alrosa’s sales dropped 13.7 percent to $2.19 billion, producing about 32.8 million carats.

In 2008, revenues from rough diamond sales totaled $2.93 billion. In the first quarter of 2010, Alrosa mined 8.6 million carats that sold for nearly $930 billion.

The June 26 AGM, to be held in Mirny, Sakha, will be asked to approve the company’s annual report, financial statements, profit distribution and dividend payments of RUB 916.3 ($29.8) per share.