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ALROSA's 1Q Production +6%

Apr 22, 2014 3:41 AM   By Deena Taylor
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RAPAPORT... ALROSA’s diamond production rose 6 percent year on year to 7.9 million carats in the first quarter that ended on March 31. The company noted that increased output stemmed from mining higher-grade ore at the Jubilee mine and expanded production at its Aikhal, International and Arkhangelskaya mines.

The Russia-based miner reported that revenue from rough diamond sales rose 24 percent during the period to $1.5 billion. The company sold 12.7 million carats, including 9.5 million carats of gem-quality diamonds at an average price of $155 per carat and 3.2 million carats of industrial diamonds with an average price of $12 per carat.

The company noted positive dynamics for the diamond market during the first quarter and 4 percent growth in rough diamond prices since the beginning of the year.

ALROSA reported that it processed 5.4 million tonnes of ore during the quarter, the same amount as one year ago, while the average grade achieved rose 7 percent to 1.47 carats per tonne.

Production at the Aikhal division, which consists of the Jubilee pipe, Aikhal underground mine and Komsomolskaya pipe, rose 51 percent to 3 million carats. The Mirny division, which includes the International and Mir underground mines and various alluvial deposits, recorded a production decline of 18 percent to 1.477 million carats.

The Udachny division, including the Udachnaya and Zarnitsa pipes, reported production decreased 30 percent to 1.1 million carats, while the Nyurba division's production grew 4 percent to 2.1 million carats. Production at the Lomonosov division jumped 85 percent to 233,000 carats, while production at Almazy Anabara and Nizhne-Lenskoye ceased during the quarter due to the seasonality of gravel mining.
Tags: Alrosa, Deena Taylor, diamond, diamonds, Lomonosov OJSC Almazy Anabara, Mirny, Nyurba, OJSC Nizhne-Lenskoye, Udachny
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