ALROSA may reduce diamond production in 2020 by 10-15% due to large reserves of diamonds
Yakutia 24 TV channel with the reference to TASS: In 2020, ALROSA diamond mining company may reduce diamond production by 10-15% compared to 2019 due to the large reserves of diamonds, announced the head of the company Sergey Ivanov.
“One of the options to be discussed is to reduce diamond production by 10-15% in the next year compared to 2019, because we will end the year with good reserves. We will always have the opportunity to return and increase production,” Ivanov said on the sidelines of the Russia-Africa forum in Sochi.
He noted that ALROSA shareholders will see “minimal consequences”. “It is too early to say, in November – December we will discuss it with the shareholders. Perhaps we will propose to slightly reduce production for the next year,” he added.
ALROSA is the largest diamond mining company; its share in world diamond production is 27%. The company produces in the territory of the Sakha Republic (Yakutia), the Arkhangelsk region, as well as in Angola. In 2018, ALROSA produced 36,7 million carats of rough diamonds; revenue from sales of diamond products reached $ 4,5 billion.