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ALROSA’s Diamond Sales Touch USD 2.299 Billion in First Five Months

ALROSA’s Diamond Sales Touch USD 2.299 Billion in First Five MonthsALROSA’s Diamond Sales Touch USD 2.299 Billion in First Five Months

ALROSA’s Diamond Sales Touch USD 2.299 Billion in First Five Months

ALROSA’s Diamond Sales Touch USD 2.299 Billion in First Five Months.With its sales results up to May 2018 ALROSA Group notes that it has experiences good demand across almost all its diamond product varieties. The mining giant clocked a total of USD 288.0 million from selling rough and polished diamonds in May 2018. Of these, rough diamond sales valued USD 277.5 million and polished diamond sales were worth USD 10.5 million.

Between the five months of January-May 2018, the company’s total sales earning from both rough and polished diamonds valued a total of USD 2.299 billion. Of this, rough diamond sales were at USD 2.256 billion. USD 43.3 million worth of polished diamonds were sold.

Deputy General Director Yury Okoemov noted that the company is seeing ‘good demand for almost all assortment of our diamond products.’ He spoke of the planned sales decrease in May 2018 from May 2017, “due to the sale of the inventories accumulated by the beginning of the year and a seasonal decline in the current production, mostly driven by mining suspension at some alluvial deposits in the first months of the year”.

About Alrosa India

India is the largest diamond polishing center. According to different estimates, from 70% to 90% of world’s rough diamonds are cut there. Being the largest rough diamond miner, ALROSA has a long trade collaboration with India and is interested in strengthening this cooperation.

In 2017, ALROSA directly supplied to India rough diamonds worth almost $700 million. In the new contract period (2018-2020), ALROSA has signed 15 long-term contracts with diamond manufacturing companies in India – 14 for gem-quality diamonds and one for industrial goods. ALROSA currently works with more than 100 Indian companies that buy diamonds from the spot market or auctions.

Mines to Market
the authorMines to Market
Prashant Rathod

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