Mirny Diamonds

ALROSA RAKES IN $2.2 BILLION IN PROFIT IN 2016, HALF GOES TO DIVIDENDS

Russian mining giant Alrosa has reported a net profit of $2.2 billion (RUB 131.4 billion) for 2016, half of which – $1.12 billion – is being paid out as dividend to its shareholders, Gem Konnect reports. This is four times the dividend amount paid by Alrosa in 2015.

 

These shareholders, according to the piece, “include the Russian government and local governments in the Yakutia region”. In July 2016, 10.9% stake in the company was sold to private parties “to help the Russian government tide over a budgetary shortfall”.

 

In May, Alrosa sold rough and polished diamonds worth $472.1 million – 33% higher compared to a year earlier. Revenue from rough diamond sales totaled $467.6 million, while sales of polished diamond brought the company $4.5 million.

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