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RAPAPORT... ALROSA sold approximately $1 billion worth of diamonds during the third quarter that ended on September 30, according to the company's preliminary estimate. ALROSA sold 5.3 million carats of gem-quality goods with an average price of $182 per carat and 2.3 million carats of industrial stones for $16 per carat during the quarter. The company noted that group revenue for the first nine months of the year rose 8 percent year on year to approximately $3.7 billion for 28.8 million carats. ALROSA told investors that diamond market performance remained positive and that rough diamond prices have risen about 7 percent since January. Production during the third quarter fell 2.1 percent year on year to 9.737 million carats; however, seasonal production growth at ALROSA's alluvial deposits helped to boost production compared with the second-quarter totals. ALROSA stated that production decreased, in part, due to the reduction in ore processing at its Udachnaya pipe, where output plummeted 39 percent to 293,000 carats and the company's Mirny division output contracted 67 percent to 621,000 carats. ALROSA's Aikhal division output jumped 21 percent to 2.981 million carats, while production jumped nearly 12 percent for the Nyurba division to 2.264 million carats. Severalmaz's production rose to 524,000 carats from 155,000 carats one year earlier and Almazy Anabara's output increased 17 percent to 1.82 million carats, however, Nizhne-Lenskoye's production slipped 12 percent to 1.234 million carats. Production for the first nine months of 2014 has fallen 5 percent year on year to 25.655 million carats, according to ALROSA's statement. Again, production decreased mainly due to the reduction in ore processing at the Udachnaya pipe, which is in line with the company's plan for transitioning to underground mining. The Udachny underground mine development has been progressing on schedule, according to the company. ALROSA noted strong growth from Severalmaz, following the launch of a second module of the site’s processing plant. ALROSA expects to achieve full year production of 36 million carats in 2014.
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