ALROSA Anticipates Drop in 2014 Diamond Production

Reuters reported that Russia’s ALROSA (MCX:ALNU) sees its 2014 diamond production sinking to 36 million carats, down from 36.9 million carats in 2013. The company expects its sales to be flat at 38 million carats.

As quoted in the market news:

Its 2014 production is likely to decline to 36 million carats from 36.9 million carats a year ago, Alrosa said in a statement, but the company plans to sell 2 million carats from its reserves. Alrosa’s 2013 revenue was up by 10 percent, year-on-year, to at least 165 billion roubles ($4.7 billion).

Click here to read the full Reuters report.