World’s largest diamond producer by output said market has refound its balance.
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output, said Monday it sold $2.5 billion worth of rough and polished precious rocks from January to June this year.2017
From that total, rough diamonds sales totalled $2.442 billion, and polished ones fetched $54.9 million, the company said.
Last month alone, the miner brought in $365 million in diamond sales — $354 million in rough rocks and $10.6 m. in polished ones.
Alrosa Vice President Yury Okoemov said the company considers the seasonal slowdown of June officially at an end, adding the rough diamond market is back to being balanced.
The company, which is planning to increase production by 6% to 39.2 million carats this year, appointed in March Sergei Ivanov, the son of a close advisor to Russian president Vladimir Putin, as its new president.