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ALROSA Rough Sales -12% But Average Price +18% In 9 Months To Sept. 30

ALROSA said that it had sold 21.1 million carats of gem-quality rough diamonds in the nine months to September 30 last, a 12 percent drop in a year-on-year comparison. The diamond miner said its inventories at the end of the period were, however, down 11 percent in a year-on-year comparison to 15.5 million carats.

ALROSA’s average realised prices for its gem-quality rough grew 18 percent year-on-year to $199 per carat due to an improved mix as sales of its large diamonds (+10.8 and +2 carats) grew. The diamond price index had also grown 5.2 percent during this period.

Rough diamond production for the third quarter of 2018 grew 2 percent to 10.5 million carats in a quarter-on-quarter comparison with 2017. Production for the nine months to September 30 was, however, down 11 percent to 26.4 million carats, mainly due to the shutdown of the Mir underground mine and the completion of open-pit mining at the Udachnaya pipe.

ALROSA maintains its guidance of a production of 36.6 million carats for 2018, an eight percent decrease compared with 2017.

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