Russian mining giant Alrosa has announced its rough and polished diamond sales for September, reporting sales totaling $309.7 million. According to Mining Weekly, this constitutes a 32% decrease year-on-year.
Rough diamond sales amounted to $305.8 million (compared with sales of $435.1 million in September 2016), while polished diamond sales totaled $3.9 million (compared with sales of $18.9 million in September 2016).
Alrosa VP Yury Okoyomov explained: “The decline in sales in September compared with the same month in 2016 is due to lower activity level in the market, particularly caused by the early beginning of the Diwali festival in India this year, for which reason many factories are closed for a long period”. According to the same report, “Alrosa expects a revival of the market in the fourth quarter as the industry prepares for the holiday season”.
