Support The Moscow Times!

Russia's Alrosa Plans to Increase Diamond Sales by 1% in 2015

Alrosa, the world's top producer by output in carats, plans to sell 40 million carats in 2015, including 38 million carats from its output and 2 million carats from stock.

Russian diamond mining company Alrosa plans to increase sales by one percent in 2015, taking advantage of rising production and using offtake from its stock, it said Thursday.

Alrosa, the world's top producer by output in carats, plans to sell 40 million carats in 2015, including 38 million carats from its output and 2 million carats from stock.

"The company expects moderate growth of the diamond market in 2015," it said in a statement, pointing to expected economic growth in major diamond consuming countries.

Alrosa competes with Anglo American-owned De Beers for the status of the world's largest diamond miner but usually generates less revenue than its South-African rival.

In 2014, the Russian company reported revenue from diamond sales of $5.05 billion, while its production fell to 36.2 million carats from 36.9 million in 2013.

De Beers has yet to publish production results for 2014.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.