Alrosa Increases Q4 Diamond Output

On Thursday (January 25), ALROSA (MCX:ALRS) announced that despite shutdown of the Mir underground mine, the group’s FY 2017 diamond production totalled 39.6 million carats, up by 6 percent year-on-year.
As quoted in the press release:

Indicatively, in 2017 ALROSA Group sold 41.2 million carats of diamonds, while rough and polished diamond sales amounted to USD 4.2 billion and USD 96.9 million, respectively.
Rough diamond sales in Q4 2017 amounted to 9.4 million carats, including 6.2 million carats of gem-quality diamonds at an average price of USD 139 per carat, and 3.2 million carats of industrial diamonds at an average price of USD 6.5 per carat. Rough diamond sales amounted to USD 881 million. Polished diamond sales for this period amounted to USD 28.7 million.

Igor Sobolev, first vice president of ALROSA, commented:

Despite shutdown of the Mir underground mine in view of the accident in August 2017, the Company delivered on the annual diamond production plan. The key drivers for diamond production growth were higher output at the Udachny underground mine, development of the richest part of the deposit at the Jubilee pipe, increased grade at the Arkhangelskaya and Karpinskogo-1 pipes operated by Severalmaz, as well as higher production at the Botuobinskaya pipe.

Click here to read the full ALROSA (MCX:ALRS) press release.