ALROSA H1 2016 Production -6% Year-on-Year
July 21, 16
(IDEX Online News) – ALROSA has released its first half year results, which showed that diamond production totaled 16.9 million carats or a 6-percent year-on-year decrease.
The company said that the fall was driven by several factors including an increase in ore processing at Mir underground mine and a decrease in ore processing at the International underground mine; a partial replacement of ore processed from the Udachny pipe with ore processed from the Zarnitsa pipe, due to the cessation of open-pit mining at Udachny and a decrease in gravels processing at alluvial deposits due to adjustment of the 2016 production plan from 39 to 37 million carats.
Preliminary results show that ALROSA sold 9.6 million carats of diamonds in the second quarter, including 7.1 million carats of gem-quality diamonds at an average price of $169 per carat. It also sold 2.5 million carats of industrial diamonds at an average price of $8 per carat. Revenue from rough diamond sales totaled approximately $1.2 billion.