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Diamond Production Up 6 Percent for Alrosa
The mining company reported Thursday that production hit 38.3 million carats last year, which is a 6 percent increase compared with 2014.
Moscow--Alrosa reported that rough diamond production hit 38.3 million carats last year, which is a 6 percent increase compared with 2014.
The mining company attributed the growth to the development of the Mir and Udachny underground mines and the commissioning of the Karpinskaya-1 and Botuobinskaya pipes and other high-potential deposits.
The company also saw its reserves grow to 43.6 million carats in 2015.
Alrosa said rough diamond sales were up by 4 percent, despite the poor global diamond market conditions.
The miner said its current market capitalization now exceeds $6.12 billion.
In its forecast for the future, Alrosa said it predicts a “bright” outlook for the market, with demand starting to exceed supply after 2019.
Last month, Alrosa announced that revenue was up 8 percent in 2015 to $3.28 billion, due to a favorable market environment and the rouble’s depreciation against the dollar.
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