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| Russia’s Alrosa sees nearly tenfold surge in diamond sales amid growing demand from India | Russia’s Alrosa sees nearly tenfold surge in diamond sales amid growing demand from India |
| (about 1 month later) | |
| In May, Russia’s top gem miner, Alrosa, saw more than a ninefold year-on-year surge in sales of rough diamonds. At the same time, sales of polished diamonds increased by nearly fivefold, according to the producer. | In May, Russia’s top gem miner, Alrosa, saw more than a ninefold year-on-year surge in sales of rough diamonds. At the same time, sales of polished diamonds increased by nearly fivefold, according to the producer. |
| In monetary terms, the world’s leading diamond-mining company by volume sold $346-million-worth of rough diamonds and $19-million-worth of polished gems. | In monetary terms, the world’s leading diamond-mining company by volume sold $346-million-worth of rough diamonds and $19-million-worth of polished gems. |
| At the same time, the overall May sales, which amounted to $365 million marked a decline of 9% compared to the previous month. | At the same time, the overall May sales, which amounted to $365 million marked a decline of 9% compared to the previous month. |
| The company reportedly sold $1,926-million-worth of rough and polished diamond in the first five months of the current year compared to the $960-million proceeds recorded in the same period in 2020. | The company reportedly sold $1,926-million-worth of rough and polished diamond in the first five months of the current year compared to the $960-million proceeds recorded in the same period in 2020. |
| “Our May sales results demonstrate strong demand coming from Indian midstream,” said Evgeny Agureev, the company’s deputy CEO. | “Our May sales results demonstrate strong demand coming from Indian midstream,” said Evgeny Agureev, the company’s deputy CEO. |
| The executive added that their cutters and polishers had fully adapted and were able to process all available volumes of rough diamonds despite the epidemiological situation. | The executive added that their cutters and polishers had fully adapted and were able to process all available volumes of rough diamonds despite the epidemiological situation. |
| “End demand for diamond jewelry remains robust in all key regions. For the first four months of the year, jewelry sales exceeded the pre-Covid levels of 2019 by 30% in the USA and by 10% in China,” he said. | “End demand for diamond jewelry remains robust in all key regions. For the first four months of the year, jewelry sales exceeded the pre-Covid levels of 2019 by 30% in the USA and by 10% in China,” he said. |
| Alrosa is in the top three of the world’s largest diamond miners, as its share in the global diamond output hovers at around 25%. The Angolan company Catoca, 41% of which belongs to Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the Yakutia Republic and in the Arkhangelsk Region. | Alrosa is in the top three of the world’s largest diamond miners, as its share in the global diamond output hovers at around 25%. The Angolan company Catoca, 41% of which belongs to Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the Yakutia Republic and in the Arkhangelsk Region. |
| Its market capitalization makes up nearly $9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares. | Its market capitalization makes up nearly $9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |