Russian Alrosa produced 7 million carats of diamonds in Q2

Russian mining giant Alrosa produced 7 million carats of diamonds in the second quarter of 2021 – a fall of 8% quarter-on-quarter but a rise of 22% year-on-year, Rough & Polished reports.

Alrosa has also reported sales of 11.4 million carats and $1.2 billion in revenue for Q2 2021. Rough sales fell 26% quarter-on-quarter. The average selling price of gem-quality diamonds reached $145 per carat. Alrosa reported that demand for jewelry remains strong in all key markets, then added: “At the same time, against the background of a structural decline in diamond production at a number of diamond fields, the stocks of mining companies approached their minimum values; the Company estimates that mining companies’ ability to scale up production is limited. There is a decrease in the levels of rough and polished stocks in the diamond manufacturing sector”.

In other Alrosa news, the miner has re-opened the Zarnitsa open-pit mine in Yakutia, Russia. Zarnitsa stopped production in May 2020 as the market slumped but resumed operation on July 1, IDEX Online reports. Last month, Alrosa re-opened another low-output deposit, the Zarya open pit, also in Yakutia.

Source: en.israelidiamond.co.il