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ALROSA Expects 2016 Sales of $3.5B
Miner Reportedly in Talks to Sell Rough Diamonds to State Depository Gokhran
Dec 23, 2015 8:16 AM
By Rapaport News
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ExpectsRAPAPORT... ALROSA expects to sell $3.5 billion of diamonds in 2016 as growth in
demand for precious stones remains minimal, the Russian miner guided. Production
will probably rise 2.6 percent to 39 million carats next year.
The miner’s supervisory board approved the group’s 2016 budget,
according to a statement December 22. ALROSA aims to achieve the design
capacity of the Mir underground mine in the Yakutia region of Russia, among other
key objectives, the statement said.
Separately, ALROSA
is discussing a deal with Gokhran, Russia’s state repository, to sell it rough
diamonds, Interfax reported December 22, citing Russia’s Deputy Prime Minister
Yuri Trutnev.
"The issue of diamond purchases by
Gokhran is being discussed. I think [a deal will take place] as early as next
year," Trutnev, who is responsible for ALROSA in the Russian cabinet, was
quoted as saying.
ALROSA's sales jumped 17 percent to $2.6 billion in the first nine months of 2015, the company said in its last earnings report in November. Full-year results are yet to be released.
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Tags:
Alrosa, data, Gokhran, guidance, mining, Rapaport News
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