ALROSA Diamonds Announces Q1 Results

ALROSA diamonds, the world’s largest diamond concern by volume, has just announced Q1 2015 financials. According to the news from the company, total production across projects has risen 6% year on year.

Production performance in the first months of 2015 totaled some 8.4 million carats of diamonds. The gains were the result of several factors including:

  • The Mir underground mine: diamond output increased by a factor of 9x, up to 488 thousand carats through measures to reduce the mine watering
  • The Botuobinskaya pipe saw the first 313,000 carats was produced after the launch in March 2015
  • The Arkhangelskaya and Karpinskogo-1 pipes of the Lomonosov deposit (Severalmaz) saw increase in volumes of processed ore at Karpinskogo-1 by a factor of 2x to a total diamond output up to 450,000 carats.

Sales performance for Q1 was likewise positive, revealing some 9 million carats sold by ALROSA worldwide. The breakdown of sales showed 7 million carats of gem quality diamonds sold for $161 dollars per carat. Meanwhile industrial grade sales were an additional 2 million carats at $8 per carat.

Q1 2015 revenue from rough diamond sales is set to reach at least USD 1.1 billion, according to ALROSA. Overall diamond prices for Q1 declined by 3% over a soft market, but experts expect conditions to improve as uptrends in key jewelry markets in the US, China, and in India materialize later this Summer.

For those interested in ALROSA’s Q1 2015 operational overview, the full version is available via PDF here

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