Mining giant Alrosa has reported that its net profit for the first six months of the year totaled 55.6 billion roubles ($551 million) – down 35% year-on-year, according to Mining Weekly.
The company also reported that its revenue rose 0.16% year-on-year to 188.2-billion roubles (around $1.9 billion) during the period.
Earlier this month, Alrosa’s CEO Pavel Marynichev was targeted by US sanctions, following in the footsteps of his predecessor Sergey Ivanov. The specific designation for Marynichev is linked to his involvement in the metals and mining sector of the Russian economy.
In June, Marynichev admitted that rough diamond sales were under pressure, and that the company was seeking new channels: “There are promising sectors in which the company is already engaged. For example, the energy component of our company is developing fairly actively and dynamically,” he said.
