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| Russia’s Alrosa sees diamond sales triple for second month in row as demand in US & China remains strong | Russia’s Alrosa sees diamond sales triple for second month in row as demand in US & China remains strong |
| (5 months later) | |
| In March, Russian gem miner Alrosa recorded a threefold year-on-year surge in sales of polished diamonds. At the same time, sales of rough diamonds more than doubled, according to the latest data revealed by the producer. | In March, Russian gem miner Alrosa recorded a threefold year-on-year surge in sales of polished diamonds. At the same time, sales of rough diamonds more than doubled, according to the latest data revealed by the producer. |
| In monetary terms, sales of rough diamonds amounted to $345 million, while polished diamond sales totaled $12 million. Meanwhile, the miner’s sales revenue in March ran at $357 million, marking a four-percent decline compared to the previous month. | In monetary terms, sales of rough diamonds amounted to $345 million, while polished diamond sales totaled $12 million. Meanwhile, the miner’s sales revenue in March ran at $357 million, marking a four-percent decline compared to the previous month. |
| In February, Alrosa – the world’s leading diamond-mining company by volume – sold $361-million-worth of rough diamonds and $12-million-worth of polished gems, marking a 5.5% surge in sales of the former and a threefold growth of the latter year-on-year. | In February, Alrosa – the world’s leading diamond-mining company by volume – sold $361-million-worth of rough diamonds and $12-million-worth of polished gems, marking a 5.5% surge in sales of the former and a threefold growth of the latter year-on-year. |
| Overall sales of diamonds rose to $1,159 billion in the first quarter of 2021, against $904 million recorded in the same period a year ago. | Overall sales of diamonds rose to $1,159 billion in the first quarter of 2021, against $904 million recorded in the same period a year ago. |
| “The results of jewelry sales in major market outlets, including the US and China, show that high demand from end consumers is maintained,” said Evgeny Agureev, Alrosa’s deputy CEO. | “The results of jewelry sales in major market outlets, including the US and China, show that high demand from end consumers is maintained,” said Evgeny Agureev, Alrosa’s deputy CEO. |
| The company makes the top three of the world’s largest diamond-mining companies, as its share in the global diamond output stands at 25%. Angolan company Catoca, 41% of which is owned by Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the remote Yakutia Republic and in the Arkhangelsk Region. | The company makes the top three of the world’s largest diamond-mining companies, as its share in the global diamond output stands at 25%. Angolan company Catoca, 41% of which is owned by Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the remote Yakutia Republic and in the Arkhangelsk Region. |
| Its market capitalization makes up nearly $9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares. | Its market capitalization makes up nearly $9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
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