Alrosa: Diamond Production Will Reach 39.6 Million Carats in 2018

Alrosa's annual diamond production will reach 39.6 million carats in 2018, the Russian diamond company announced Monday.

In 2009, a year still beset by the global financial crisis that hit the diamond industry in late 2008, Alrosa produced 32.8 million carats of rough diamonds, many of which were sold to the Russian Treasury to keep them from flooding the market.

According to Alrosa's strategic development plan, an investment of $7.38 billion over seven years will see the completion of development and the beginning of production at the Mir, Aikhal, and Udachny diamond deposits.

As far as sales, Alrosa predicts annual sales revenue of $35.1 billion from 2011-2018, with profit of $3.21 billion.

IDI