ALROSA's Rough Diamond Sales Up 8% in Sept. to $331.6 Million

Mining and Exploration
10/10/2018 14:54

Russian diamond mining giant ALROSA's September sales continued the miner's positive trend in 2018 with an 8% increase in rough diamond sales compared to September 2017, which was admittedly a low comparison base. ALROSA sold $331.6 million worth of rough diamonds compared to $305.8 million a year ago, as the larger sized stones sold well while lower qualities and sizes set forth their downturn. 

Including polished diamonds, total sales for the month increased by 9% year-over-year to $338.7 million, as sales of polished goods also increased to $7.1 million from $3.9 million. ALROSA’s total diamond sales for the year thus far (January-September 2018) have increased by 9% y-o-y to $3.662 billion from $3.357 billion. During the first nine months of 2018, ALROSA has sold $3.588 billion rough diamonds, a 9% increase over the $3.289 billion sold during the same period last year. They have sold $74.1 million worth of polished diamonds this year, compared $68.1 million in the year prior. 

“September sales growth against last year numbers is due, partially, to the low base effect of the last year, as sales of +10.8 and +2 carat rough diamonds increased," said ALROSA Deputy CEO Yury Okoemov. "At the same time, there is a further slowdown in buying activity of in inexpensive stones, traditional for the holiday season during Diwali celebration in India," he added.