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ALROSA's 2Q Diamond Production +16%

Aug 7, 2013 4:07 AM   By Avi Krawitz
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RAPAPORT... ALROSA’s diamond production rose 16 percent year on year to 9.627 million carats in the second quarter that ended on June 30. The company noted that improved output was driven by its Aikhal underground mine reaching full capacity, its acquisition of OJSC Nizhne-Lenskoye and improved grades at the Jubilee pipe.

ALROSA reported that the amount of ore processed during the quarter increased 25 percent to 9.9 million tonnes, while the average grade achieved fell 7 percent to 0.97 carats per tonne.

Production at the Aikhal division,  which consists of the Jubilee pipe, Aikhal underground mine and Komsomolskaya pipe,  grew 60 percent to 3.669 million carats. The Mirny division, which includes the International and Mir underground mines and various alluvial deposits, recorded a production decline of 9 percent to 1.778 million carats.

The Udachny division, including the Udachnaya and Zarnitsa pipes, reported a production decrease of 14 percent to 1.383 million carats, while the Nyurba division's production  fell 26 percent to 1.076 million carats. Production at the Lomonosov division dropped 4 percent to 142,000 carats, while production at OJSC Almazy Anabara increased 19 percent to 976,000 carats and it more than doubled to 612,000 carats at OJSC Nizhne-Lenskoye.

During the first half of the year, ALROSA’s total production grew 5 percent to 17.105 million carats.

ALROSA did not provide sales and price data for the quarter as it is scheduled to report  full results for the period in the coming months.
Tags: Alrosa, Avi Krawitz, diamonds, jubilee, Mirny, Rapaport
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