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Lukoil’s 1Q Diamond Sales Soar to $124M

Jun 8, 2016 9:42 AM   By Rapaport News
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RAPAPORT...
 Lukoil reported diamond sales increased fourfold in the first quarter as the company increased production from its Grib mine in Russia.

Sales jumped to $124 million (RUB 8 billion) in the three months that ended March 31 from $31 million (RUB 2 billion) a year ago. The Russia-based miner started production at Grib, its only diamond asset, in September 2014 and was expected to increase annual production to 4.5 million carats from a targeted 2 million carats in 2015.
Tags: grib, Grib mine, lukoil, mining, Rapaport News, Russia
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