Alrosa’s First-Half Diamond Sales Top $2B
Sales are more than double what they were at this point last year and up 31 percent compared with 2019.
The diamond miner reported earlier this week that it sold 11.4 million carats of rough diamonds in the second quarter.
That is down from 15.5 million carats in a busy first quarter but up exponentially when compared with 634,000 carats in the second quarter 2020, when COVID-19 brought the diamond market to a halt.
Year-to-date, rough diamond sales have totaled 27 million carats, nearly three times what Alrosa had sold by this point last year and ahead of 2019 as well, when sales at the halfway point of the year totaled 18.9 million carats.
Proceeds from rough and polished diamond sales in Q2 reached $1.18 billion, up 1 percent quarter-over-quarter and 14 percent year-over-year.
Year-to-date, rough and polished diamond sales have hit $2.34 billion, more than twice what they were at this point last year and up 31 percent compared with $1.79 billion in 2019.
Production in the second quarter totaled 7 million carats, down 8 percent quarter-over-quarter, due mainly to the seasonal processing of low-grade gravels, but up 22 percent year-over-year.
Year-to-date, production is up 6 percent year-over-year to 14.5 million carats, as Alrosa was cutting diamond output last year.
Compared to 2019, however, production so far this year is down.
Alrosa mined 17.6 million carats in the first half of 2019, with the launch of production at the V. Munskoye deposit, increased output at Udachny underground, and increased ore processing at the Botuobinskaya pipe all helping to boost diamond output.
“Jewelry demand remains strong in all key markets,” Alrosa said in a release announcing its Q2 results.
“At the same time, miners’ rough diamond inventories hit rock-bottom levels as supply structurally dropped [and] … [the] midstream is also witnessing a decline in the inventories of rough and polished diamonds.”
Demand for rough diamonds outpaced supply in Q2 amid the recovery in India—where factories are humming again following the surge of COVID cases in the spring—and continued demand from the United States and China.
Alrosa said the supply-demand imbalance is driving up rough diamond prices.
The Latest
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.