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INTERVIEW: CEO describes Russia’s Alrosa as world’s only profitable diamond producer

The Roscongress Foundation is the organizer of the EEF, with TASS as its general information partner

VLADIVOSTOK, September 6. /TASS/. Russia’s Alrosa is currently the only profitable diamond producer in the world as the industry is going through a crisis, the company’s Director General Pavel Marinychev told TASS.

"Alrosa has a large margin of safety and stability; in fact, it is the world’s only profitable diamond producing company at the moment. That said, it will certainly make it through the current crisis," he noted on the sidelines of the Eastern Economic Forum (EEF).

Earlier, Marinychev told the Yakutia-24 TV channel that Alrosa’s 2024 net profit under the International Financial Reporting Standards (IFRS) had stood at 19.25 bln rubles ($236.8 mln), while its main rival company, De Beers, had reported a negative EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).

The 10th Eastern Economic Forum is taking place in Vladivostok from September 3 to 6 under the theme "The Far East: Cooperation for Peace and Prosperity." The Roscongress Foundation is the organizer of the EEF, with TASS as its general information partner.