Alrosa's Ends 2020 with Strong December Sales

Rough Market
14/01/2021 07:39

Alrosa, the Russian mining giant, ended 2020 on a high note with total sales figures of US$521.6m, which, according to Rapaport, were the highest since March 2018, marking what deputy CEO Evgeny Agureev said was strong demand from the market. The bump in sales, not only in rough sales for.a total of US$470m, were also attributed to one-off sales, such as the rare pink Spirit of the Rose which sold for US$26.6m in November last year.

For the entire year, which was heavily impacted by COVID-19 and Alrosa's consequent decision to alleviate the pressure on the market and limit rough supply, sales dropped 16% to US$2.8bn, with rough dropping 19%, while polished revenue jumped to nearly US$150m, demonstrating Alrosa's efforts to diversify more into polished.