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Alrosa: Rough Diamond Shortage Could Last for Years

Remote mines could take months to ramp up production
alrosa rough diamonds russia
Credit: Alrosa

In a recent interview with the Financial Times quoted by IDEX Online, Evgeny Agureev, Alrosa’s deputy CEO, warned that “the current shortage of rough diamonds could persist for several years.”

 

Underground diamond mining miners
Credit: Alrosa

 

Agureev said: “Our industry will work with limited supply. There are projects, but these projects will not provide goods next year or the year after.”

 

Diamond Sorting
Credit: Alrosa

 

Recently, Alrosa has been buying rough from Gokhran, Russia’s state-run mineral repository, in order to “top up its historically low inventory and maintain supplies to buyers.” According to Agureev, following Covid lockdowns, ramping up production at remote mines could take many months.



Tags: Diamonds News, Diamond Industry News, Alrosa News, Mining News, Diamond Prices News

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