Alrosa Reports Surge In Rough Sales in Q1

Diamond miner Alrosa reported a six-percent rise on the year in production to 7.9 million carats for the first quarter of 2014.

The firm said that preliminary sales of rough diamonds in the first quarter rising by 24 percent on the year to at least $1.5 billion.

The rise was largely due to better ore grade at the Jubilee pipe, a rise in diamond production at the Aikhal underground mine and the International underground mine, and an increase in volumes of ore processed at the Arkhangelskaya pipe.

Alrosa sold 12.7 million carats of diamonds, including 9.5 million carats of gem-quality diamonds with an average price of $155 per carat, and 3.2 million carats of industrial diamonds with an average price of $12 per carat.

The miner said there had been “positive dynamics” in the diamond market in the first quarter, and an increase of around 4 percent in rough diamond prices since the start of this year.