Al­rosa’s H1 Di­a­mond Pro­duc­tion Slips 6% To 16.9 Mn Cts

Solitaire - - SPECTRUM -

Al­rosa, the world’s largest di­a­mond miner in vol­ume terms, re­ported a 6% de­cline in di­a­mond pro­duc­tion to 16.9 mil­lion carats on a yearon-year ba­sis dur­ing the first six months of 2016. Al­rosa’s di­a­mond out­put in the sec­ond quar­ter fell 9% to 8.7 mil­lion carats com­pared to the sec­ond quar­ter of 2015.

Ac­cord­ing to the com­pany, the drop-off was driven by an in­crease in ore pro­cess­ing at the Mir un­der­ground mine and a de­crease in ore pro­cess­ing at the In­ter­na­tional un­der­ground mine; par­tial re­place­ment of ore pro­cessed from Udachny pipe with ore pro­cessed from Zar­nitsa pipe due to the ter­mi­na­tion of open­pit min­ing at Udachny pipe; and a de­crease in gravel pro­cess­ing at al­lu­vial de­posits due to an ad­just­ment of the pro­duc­tion plan for 2016 from 39 mil­lion carats to 37 mil­lion carats.

Indica­tively, in the sec­ond quar­ter of 2016, Al­rosa sold 9.6 mil­lion carats of di­a­monds, in­clud­ing 7.1 mil­lion carats of gem-qual­ity di­a­monds at an av­er­age price of $169 per carat and 2.5 mil­lion carats of in­dus­trial di­a­monds at an av­er­age price of $8 per carat.

Rev­enue from rough di­a­mond sales amounted to at least $1.2 bil­lion in Q2 2016 and at least $2.5 bil­lion in H1 2016.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.