Alrosa: Rough Diamond Shortage Could Last for Years
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.”
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.”
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.