ALROSA Increased Reserves by 25.6M Cts in 2014, Driving Output to 36.2M Cts

Mining and Exploration
05/04/2015 09:52

ALROSA boosted its diamond reserves by 25.6 million carats in 2014, meanwhile driving its output to 36.2 million carats. The miner’s investments in exploration reached RUB 6.42 billion ($113 million) last year, according to Vasily Grabtsevich, VP of ALROSA. As at July 1, 2013, ALROSA’s reserves were estimated at 608 million carats, the resource base of the company totaled 973 million carats of diamonds sufficient to maintain production at current levels for 30 years. ALROSA’s diamond mining target for 2015 is set at 38 million carats. The miner expects to sell around 40 million carats, including about 2 million carats from its stock.