ALROSA Sees 7-percent Production Increase in 2013

Rapaport reported that ALROSA’s (MCX:ALNU) diamond production for the fourth quarter of 2013 came in at 9.9 million carats. For all of 2013, the company put out 36.9 million carats, a 7-percent increase from the previous year.

As quoted in the market news:

ALROSA reported that the amount of ore processed during the quarter decreased 2 percent to 6.3 million tonnes, while the average grade achieved rose 11 percent to 1.57 carats per tonne.

ALROSA sold 10.8 million carats during the quarter, including 6.7 million carats of gem-quality diamonds for an average price of $192 per carat and 4.1 million carats of industrial diamonds with an average price of $7 per carat.

The company noted neutral dynamics of the diamond market during the fourth quarter and remained moderately optimistic going into 2014.

Click here to read the full Rapaport report.