Oct 21, 2016

ALRORA’s Production Down 6%; Rough Diamond Sales Revenue at US$ 3.5 Bn For 9M 2016

Announcing  its production and preliminary  trading results for Q3 2016 and 9M 2016,   ALROSA reported that total production of the Group amounted to  10,957 cts for Q3 and 27,882 cts  for 9M 2016. Production for 9M 2016 was 6% lower than that of  29,648 cts achieved in the  same period of the previous year. For Q3 2015, production was 11,635 cts.

ALROSA said that the fall was due to the following factors: decrease in gravels processing from Nyurba Division’s alluvial placers due to adjustment of 2016 production plan; decrease in ore production at Aikhal underground mine due to processing of additional volumes from Komsomolskaya pipe at the Processing Plant No. 8 - following completion of expansion works at the open pit; and due to the termination of open-pit mining at Udachnaya pipe.

“In  Q3 2016 ALROSA sold 8.3 million carats of diamonds, including 5.8 million carats of gem-quality diamonds at an average price of US$ 165 per carat and 2.5 million carats of industrial diamonds at an average price of US$ 7 per carat,” ALROSA announced. “Revenue from rough diamond sales amounted to at least US$  976 million in Q3 2016 and at least US$ 3.5 billion in 9M 2016.”