ALROSA Sells $554M Rough Diamonds in March, $1.3B in Q1

Mining and Exploration
10/04/2017 15:17

Russian mining giant ALROSA sold US$554.2 million worth of rough diamonds in March 2017, while polished diamond sales for the same period amounted to US$12.4 million, briging total diamond sales in March 2017 to US$566.6 million. This represents a 1% increase compared to the same period last year, according to the company. Sales for the first quarter 2017 remained flat compared to Q1 2016, at $1.3 billion. In comparison to February, rough sales jumped 42 percent from $389M. The sales figures in March bring ALROSA in the ballpark of De Beers' $580M rough diamond sold in Cycle 3, though De Beers has sold $1.86 billion in three sales periods this year.

“In March, we continue to observe stable demand in almost all categories of rough diamonds, which is a confirmation of the optimism of market participants shown during the jewelry exhibition in Hong Kong," said Yury Okoyomov, Vice President of ALROSA.