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ALROSA's 2Q Production -16%

Diamond Sales +13%, Rough Prices +6% in 1H

Jul 21, 2014 2:55 AM   By Deena Taylor
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RAPAPORT... ALROSA’s diamond production fell 16 percent year on year to 8.043 million carats in the second quarter that ended on June 30. The company noted the decline resulted from planned annual maintenance at processing plants at its Aikhal and Udachny divisions.

ALROSA reported that the amount of ore processed increased 1 percent to 10.3 million tonnes, while the average grade achieved fell 17 percent to 0.78 carats per tonne.

Production at the Aikhal division, which consists of the Jubilee pipe, Aikhal underground mine and Komsomolskaya pipe, declined 35 percent to 2.38 million carats. The Mirny division, which includes the International and Mir underground mines and various alluvial deposits, recorded a production decline of 13 percent to 1.553 million carats.

The Udachny division, including the Udachnaya and Zamitsa pipes, reported a production decrease of 25 percent to 1.039 million carats, while the Nyurba division's production fell 21 percent to 848,000 carats. Production at the Lomonosov division more than doubled to 394,000 carats, while production at Almazy Anabara increased 28 percent to 1.239 million carats. Production at  Nizhne-Lenskoye fell 4 percent to 590,000 carats.

The Russia-based miner reported that it sold 8.4 million carats during the quarter, including 6.1 million carats of gem-quality diamonds at an average price of $200 per carat and 2.3 million carats of industrial diamonds with an average price of $11 per carat.

During the first half of the year, ALROSA’s total production decreased 7 percent to 15.937 million carats. Revenue from rough diamond sales rose 13 percent year on year during the period to $2.7 billion, while the company sold 21.1 million carats.

ALROSA noted positive dynamics for the diamond market during the first half, stating that rough prices rose 6 percent since the beginning of the year.
Tags: Aikhal, Alrosa, Deena Taylor, diamond, diamonds, Lomonosov OJSC Almazy Anabara, Mirny, Nyurba, OJSC Nizhne-Lenskoye, Udachny
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