ALROSA reports Q4 and FY 2016 production and preliminary trading performance
OREANDA-NEWS. ALROSA reports Q4 and FY 2016 production and preliminary trading performance.
ALROSA’s 2016 diamond production totalled 37.4 million carats, down by 2% year-on-year as a result of a downward revision in production plans for the alluvial deposits in Q2 and Q3 2016, which is in line with the diamond market environment after 2015.
The 10% year-on-year growth in production in Q4 2016 is driven by ramping up diamond mining at ALROSA’s underground mines and also by the fact that the Mir underground mine had reached its project capacity.
Preliminary sales performance
Indicatively, in 2016 ALROSA sold 40.1 million carats of diamonds. Revenue from rough diamond sales is set to reach at least USD 4.3 billion.
In Q4 2016, ALROSA sold 10.1 million carats of diamonds, including 6.6 million carats of gem-quality diamonds at an average price of USD 127 per carat and 3.5 million carats of industrial diamonds at an average price of USD 6 per carat. Revenue from rough diamond sales amounted to at least USD 849 million in Q4 2016.