ALROSA To Review Sales, Output Outlook For 2017 - Report
May 27, 17
(IDEX Online) – Russia’s ALROSA will review its sales outlook for this year, the company’s representative told the TASS news agency.
"We’ll review sales (outlook) for 2017. We are to go ahead with budget revision. We plan to complete the work in the summer. Sales in 2017 will obviously be higher than initially planned," he said, adding that the final sales outlook for this year will be specified after the work is completed.
ALROSA plans to increase diamond mining by 5 percent to 38.85 million carats in 2017
According to ALROSA Vice President and CFO Igor Kulichik, the company will also review its output outlook for 2017. ALROSA previously said that plans diamond production of 39 million carats in 2017, which is in line with last year’s level.
Vice President Yuri Okoyomov said in March that the company planned sales of more than $4 billion for this year.
In the first quarter of this year, ALROSA produced 8.9 million carats, an increase of 9 percent year-on-year. According to preliminary data, diamond sales amounted to 14.1 million carats in Q1 of 2017, including 11 million carats of diamonds of jewelry quality at an average price of $117 per carat and 3.1 million carats of technical quality diamonds at an average price of $7 per carat.