Alrosa's Rough Diamond Sales Continue To Rise, Earn $390M in Jan.

Mining and Exploration
10/02/2020 16:24

Russian diamond mining giant Alrosa last month had its largest sale of rough diamonds in well over a year, earning $390.2 million at its January sale and adding another $14.8 million in polished goods for a total of $405 million. The last time the miner sold more rough goods in a single month was back in April of 2018.

Alrosa's rough sales of $390.2 million is 40% higher than in January 2019 ($278.2 million) and marks an 11% increase over December's sales. The company's rough diamond sales have been gradually increasing almost every month since bottoming out at $164.6 million in July of 2019. Including polished sales, the $405 million earned in January is was 44% higher than the $281.5 million in total earnings in January 2019 and 11% more than December's overall sales ($352.1 rough, $11.6 polished). 

“January saw steady demand for rough diamonds as cutters continued restocking on the back of positive Christmas jewellery retail sales,” commented Evgeny Agureev, Deputy CEO of Alrosa.