Sourcing

Diamond Production Up 6 Percent for Alrosa

SourcingApr 15, 2016

Diamond Production Up 6 Percent for Alrosa

The mining company reported Thursday that production hit 38.3 million carats last year, which is a 6 percent increase compared with 2014.


Moscow--Alrosa reported that rough diamond production hit 38.3 million carats last year, which is a 6 percent increase compared with 2014.

The mining company attributed the growth to the development of the Mir and Udachny underground mines and the commissioning of the Karpinskaya-1 and Botuobinskaya pipes and other high-potential deposits.

The company also saw its reserves grow to 43.6 million carats in 2015.

Alrosa said rough diamond sales were up by 4 percent, despite the poor global diamond market conditions.

The miner said its current market capitalization now exceeds $6.12 billion.

In its forecast for the future, Alrosa said it predicts a “bright” outlook for the market, with demand starting to exceed supply after 2019.

Last month, Alrosa announced that revenue was up 8 percent in 2015 to $3.28 billion, due to a favorable market environment and the rouble’s depreciation against the dollar.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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