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| Russia eyes quadrupling production of alexandrite & increasing its emeralds output by 20% | Russia eyes quadrupling production of alexandrite & increasing its emeralds output by 20% |
| (5 months later) | |
| Production of emeralds in Russia is expected to grow by 20% in 2021, according to RT-Capital, a subsidiary of Russian state-controlled corporation Rostec, which operates the country’s only emerald placer mine. | Production of emeralds in Russia is expected to grow by 20% in 2021, according to RT-Capital, a subsidiary of Russian state-controlled corporation Rostec, which operates the country’s only emerald placer mine. |
| The outlook comes after a 10% drop recorded last year, when output amounted to a modest 150 kilograms.The company is also planning to raise fourfold the output of alexandrite, the world’s rarest gem, chief executive Kirill Fedorov said, as cited by TASS. | The outlook comes after a 10% drop recorded last year, when output amounted to a modest 150 kilograms.The company is also planning to raise fourfold the output of alexandrite, the world’s rarest gem, chief executive Kirill Fedorov said, as cited by TASS. |
| “Last year was one of the most difficult for the Mariinsky mine,” Fedorov said, adding that the company saw an 80% drop in sales, while exports were completely halted. | “Last year was one of the most difficult for the Mariinsky mine,” Fedorov said, adding that the company saw an 80% drop in sales, while exports were completely halted. |
| “In the second half of 2020, we saw a resurgence in demand for stones such as emerald and alexandrite. This year we plan to increase the production of emeralds by 30 kilograms,” he added. | “In the second half of 2020, we saw a resurgence in demand for stones such as emerald and alexandrite. This year we plan to increase the production of emeralds by 30 kilograms,” he added. |
| The top manager also said that the company mined just a kilogram of alexandrite in 2020. | The top manager also said that the company mined just a kilogram of alexandrite in 2020. |
| “This is the world’s rarest precious stone, with annual production of alexandrite across the world commonly reaching just 40 kilograms,” Fedorov said. | “This is the world’s rarest precious stone, with annual production of alexandrite across the world commonly reaching just 40 kilograms,” Fedorov said. |
| He added the world’s leading miner of alexandrite is Brazil, with the share of output of 93%, while Russia is ranked second with a share of four percent. | He added the world’s leading miner of alexandrite is Brazil, with the share of output of 93%, while Russia is ranked second with a share of four percent. |
| “We are planning to mine four kilograms of alexandrite in 2021,” the CEO said. | “We are planning to mine four kilograms of alexandrite in 2021,” the CEO said. |
| According to Fedorov, prices for emeralds and alexandrite have increased by about six percent since the drastic crash during the Covid-29 pandemic. Prices for both have reportedly grown by up to 30% since 2018. | According to Fedorov, prices for emeralds and alexandrite have increased by about six percent since the drastic crash during the Covid-29 pandemic. Prices for both have reportedly grown by up to 30% since 2018. |
| 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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