Reduction of diamond reserves at diamond cutters in India and adjustment of production programs of global diamond mining companies will affect the growth in demand for diamonds, it is a matter of several months, said Sergey Takhiev, head of Alrosa's corporate finance department. Alfa Bank experts estimate the potential for price growth at 30-40% on the horiz...

Alrosa will fully fulfill its production plan in 2024, the volume of production will amount to 33 million carats of diamonds, the Yakutia government reports Alrosa CEO Pavel Marinychev as saying. At the end of 2023, the company produced 34.6 million carats of diamonds.

The Omani state Fund has acquired shares in the Catoca joint venture in Angola from Alrosa. The Russian company owned 41% of Catoca\ ' s shares. Alrosa will no longer participate in this partnership due to international sanctions imposed against Russia.

Amid the ongoing crisis in the diamond industry, ALROSA has prepared cost-cutting measures. The company plans to suspend production at some of the least profitable sites and reduce personnel costs by 10%, said Pavel Marinychev, General Director of the company. Analysts estimate a reduction in production of 4-10% from current production levels.