Alrosa's Diamonds

RAINING DIAMONDS: ALROSA KEEPS DOING EXTREMELY WELL IN Q1

Mining giant Alrosa has reported on its performance in Q1 2017, announcing that diamond production totalled 8.9 million carats – up by 9% year-on-year, and in line with 2017 production plan of 39.2 million carats (which represents a 5% increase year-on-year). Revenue from rough diamond sales amounted to “at least” $1.309 billion, as per the report, while revenue from polished diamond sales totalled “at least” $32 million.

 

According to the report, “the growth in production is driven by ramping up diamond mining at Aikhal, Mir, International, Udachny underground mines and also by processing of higher grade ore from the Jubilee pipe”.
In Q1, the miner sold 14.1 million carats of diamonds, including 11 million carats of gem-quality diamonds at an average price of $117 per carat and 3.1 million carats of industrial diamonds at an average price of $7 per carat.

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