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Alrosa CEO predicts lowest global diamond production in next few years

Pavel Marinychev noted that a number of companies around the world are cutting their production to regulate supply and demand, "the global diamond balance"

MOSCOW, December 24. /TASS/. The year 2025 and the next few years will be the lowest in global diamond production, as companies are cutting production to regulate the market, Alrosa CEO Pavel Marinychev said in an interview with the Rossiya-24 television channel.

"It must be said that the current year and several subsequent years will be the lowest in terms of global production," he said.

Marinychev noted that a number of companies around the world are cutting their production to regulate supply and demand, "the global diamond balance."

"These include companies like ours, like De Beers. A number of companies simply cannot continue production at these prices and are suspending or even stopping it," he said.

Alrosa operates in Russia’s Republic of Sakha (Yakutia) and Arkhangelsk Region. The company is engaged in exploration, mining, sales, and cutting of rough diamonds. Russia owns 33.02% of the company’s shares, the Republic of Sakha (Yakutia) holds 25%, and the administrations of the districts (uluses) within which the company operates control 8%. Approximately 34% of the company’s shares are in free float.

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