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Russian diamond producer Alrosa increases output by 7% in 2013

January 30, 2014, 10:15 UTC+3 MOSCOW
Alrosa registered neutral dynamics of the diamond market in the fourth quarter of 2013 and made a moderately optimistic forecast for 2014
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MOSCOW, January 30. /ITAR-TASS/. Russian diamond producer Alrosa said on Thursday it increased its diamond output by 7% to 36.9 million carats in 2013.

In 2014 the company expected its output to decline to 36 million carats year-on-year and its sales to reach 38 million carats, including a 2-million-carat stock. Alrosa registered neutral dynamics of the diamond market in the fourth quarter of 2013 and made a moderately optimistic forecast for 2014.

Alrosa expected its revenue in 2013 under the International Financial Reporting Standards to grow by 10% to no less than 165 billion rubles year-on-year.

The diamond production in the fourth quarter of 2013 totaled 9.9 million carats, up by 10% year-on-year. The sales in that period reached 10.8 million carats, including 6.7 million carats of gem-quality diamonds at an average price of $192 per carat and 4.1 million carats of technical diamonds at an average price of $7 per carat.

Alrosa is engaged in the exploration, mining, manufacture and sale of diamonds. Alrosa develops diamonds in the Republic of Sakha (Yakutia) and the Arkhangelsk region, Russia’s extreme north. In 2012 the world’s largest diamond producer by output produced 34.4 million carats. The company’s revenue reached 150.9 billion rubles.

Alrosa’s biggest shareholders are the Russian Federation represented by the Federal Agency for Management of State Property with a 44% stake and the Republic of Sakha represented by the Ministry of Property Relations with a 25% stake. Twenty-three percent of the company’s shares are in free public circulation.

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