Wed, 08 Dec 2021

Russian diamond miner Alrosa increased production by 26% in the third quarter of 2021, according to the latest data released by the company.

The company produced 8.8 million carats of diamonds in July-September this year. In total, in the first nine months of 2021 Alrosa's diamond production grew by 1% compared to the same period last year, to 23.3 million carats.

The growth factors in the company are said to be the seasonal increase in the processing of 'Almazov Anabara' sands, the increase in the processing of diamond ore at the Mining and Processing Plant Udachninsky and the planned increase in production at the Nyurbinskaya pipe.

Alrosa's raw diamond reserves as of September 30 were 8.6 million carats, which signified an increase of 0.2 million carats during the third quarter.

Alrosa is the world's largest producer of diamonds in volume, accounting for 27% of the globe's and 95% of Russia's diamond production. Another 6% falls on the Angolan company Catoca, in which Alrosa has a 41% stake.

Alrosa's shareholders include Russia's Federal Agency for State Property Management (33.02%) and the Yakutia region (25%), but nearly 34% of the company's shares are in free circulation. The company operates in Russia's Far Eastern Yakutia and Arkhangelsk regions, developing 11 kimberlite pipes and 16 alluvial deposits.

In total, since the beginning of 2021 Alrosa sold $2.976 billion worth of diamond products compared to $2,802 billion in the whole of 2020.

For more stories on economy & finance visit RT's business section

(RT.com)

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