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ALROSA Posts Positive 2013 Operational Results Report
31.01.2014 14:47
ALROSA Posts Positive 2013 Operational Results Report
Photo Credit: http://www.profi-forex.org

ALROSA has published a positive operational results report boasting a increase in output and revenue.

      Diamond production in 2013 totaled 36.9 million carats, up 7 percent year-on-year, says an official statement on the company’s website.

      The increase was “primarily driven by improved ore grade at the Jubilee pipe, the acquisition of OJSC Nizhne-Lenskoye, and Aikhal underground mine reaching its target capacity,” says the update.

      According to the statement, the Russian diamond monopoly “sold 10.8 million carats of diamonds in Q4 2013, including 6.7 million carats of gem-quality diamonds with an average price of $192 per carat and 4.1 million carats of industrial diamonds with an average price of $7 per carat.”

      2013 diamond sales totaled 38.0 million carats of diamonds, including 26.7 million carats of gem-quality diamonds with an average price of $176 per carat and 11.3 million carats of industrial diamonds with an average price of $9 per carat, read the statement.

      ALROSA expects a 10 percent rise in revenue, with full year earnings of RUR 165 billion.

      As for the outlook for 2014, diamond production is likely to decline to 36 million carats, but the company plans to sell around 2 million carats in inventories.

      Earlier, Russia-IC reported that Rosneft was expected to buy ALROSA's natural gas assets worth $1-1.5 billion to bolster its bid to undermine Gazprom's monopoly.

      ALROSA announced its decision to sell Geotransgaz and Urengoy Gas Company, both located in Yakutia, as early as 2010, before the diamond giant's IPO.

      ALROSA's CEO Fyodor Andreyev confirmed the news of the deal, but refused to disclose either the price or the buyer.

      ALROSA is one of the world leaders in diamond exploration, mining, sales of rough diamonds and diamond manufacturing.

      ALROSA accounts for 99 percent of all rough diamonds produced in Russia, and its share in the global diamond output is 27%.

      ALROSA claims to have sufficient proven reserves to maintain the current level of production for not less than 30 years.

       




Author: Mikhail Vesely

Tags: ALROSA Russian diamonds Rosneft   

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