Alrosa Forecasts Rough Sales of $3.5 Billion in 2016

The Russian diamond monopoly's Supervisory Board has approved the mining group's budget for 2016.

The firm expects diamond output to come in at up to 39 million carats.

The mining giant said in a statement that its key objectives for its production program next year are to reach the design capacity of the Mir underground mine and put the second start-up complex of the Udachny underground mine into operation in the second half-year.

Rough diamond sales by the ALROSA Group in 2016 are planned for $3.5 billion "taking into account a minimal demand growth."