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8 Apr, 13:30

Alrosa expects diamond market to recover ahead of 2027

Mining at less profitable assets of the company is being suspended in the "hot mothballing" mode, Pavel Marinychev noted

MOSCOW, April 8. /TASS/. Alrosa expects the raw and cut diamonds market will recover earlier than 2027, CEO of the Russian diamond miner Pavel Marinychev said on the air with Yakutia-24 television.

"Everything will depend on how quickly the market will recover. Global analysts say such recovery is to be completed by 2027. Certainly, we do not expect quicker recovery," the chief executive said.

Mining at less profitable assets of the company is being suspended in the "hot mothballing" mode, Marinychev noted. "If the market starts recovering, we will be able to restore operation of these performance units quite quickly," he added.

Alrosa suspended mining on placer deposits in the Anabar River valley in Yakutia from April 1.