37% drop in ALROSA’s diamond sales

Website of Russia’s ALROSA, a global leader in diamond production, reported company’s operating results for 2019 so far.

Corporate Q3 diamond production seasonally grew by 24% q-o-q to 12.1 mio cts due to the launch of production at new deposits and expansion of the existing one, while ore and gravels inventories by the end of Q3 2019 seasonally decreased by 26% q-o-q and Q3 average diamond grade stood at 0.71 cpt, representing a seasonal decrease of 24% q-o-q.

Company’s Q3 diamond sales decreased by 23% q-o-q to 6.4 mio cts, with average realized prices for gem-quality diamonds being down by 32% y-o-y to $135/ct while sales in value terms went down to $601 mio (37% drop y-o-y) and 9M sales amounted to $2,386 mio (down 34% y‑o‑y).

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