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Alrosa’s 2014 forecast is ‘moderately optimistic’
Russian mining company Alrosa experienced an increase in both sales and production in 2013 and said it is “moderately optimistic” about the year ahead.
Moscow--Russian mining company Alrosa experienced an increase in both sales and production in 2013 and said it is “moderately optimistic” about the year ahead.
In the fourth quarter 2013, Alrosa produced 9.9 million carats of diamonds, a 10 percent increase year-over-year. Improved ore grade at the Jubilee pipe, the acquisition of OJSC Nizhne-Lenskoye, and Aikhal underground mining reaching its capacity contributed to the increase.
For the full year, production increased 7 percent to 36.9 million carats.
Fourth quarter sales for the Moscow-based diamond miner and manufacturer, which has operations in Russia and Angola, reached 10.8 million carats.
Of those, 62 percent (6.7 million carats) were gem quality, selling for an average price of $192 per carat. The remaining 4.1 million carats were industrial diamonds, with an average price of $7 per carat.
For the full year, Alrosa sold a total of 38.0 million carats, 70 percent of which were gem-quality diamonds (26.7 million carats) with an average price of $176 per carat. The remaining 11.3 million were industrial quality, selling for an average of $9 per carat.
The company said it expects its 2013 revenue, including non-diamond revenue, to increase 10 percent year-over-year, reaching at least 165 billion rubles ($4.73 billion).
In 2014, diamond production is expected to remain relatively flat at 36 million carats. The company said the dynamics of the diamond market in the fourth quarter were neutral, and that it is moderately optimistic about the year ahead.
The world’s other major diamond company, De Beers, also reported an increase in fourth quarter and full-year production in 2013, with the number of carats mined rising 13 percent and 12 percent, respectively.
De Beers is the No. 1 diamond miner in value terms while Alrosa is tops in volume terms, though the Russian miner has said in recent years that it plans to overtake De Beers by 2018.
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