ALROSA says its 2021 diamond sales of $4.2B skyrocket 50% over 2020 on strong demand
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(Kitco News) - Russia’s ALROSA, a leading diamond mining company, today reported that sales of rough and polished diamonds in 2021 totaled $4,169 million, including proceeds from rough diamond sales of $3,977 million, and polished diamond sales of $192 million.
In a statement, the company said that its diamond sales in 2021 exceeded 2020 levels by 50% and that this increase was driven by recovering demand for diamond jewellery in the key consumer markets in North America and Asia.
The company noted that its December rough and polished diamond sales accounted for $254 million, including $241 million of rough diamond sales and $12 million of polished.
"Amid strong demand, December sales dynamics result from the high base effect of December 2020, when sales primarily came from our stocks, as well as from the trading session shift towards the end of the month with sales partly moving to January 2022. To reiterate, our inventories remain at rock bottom since mid-2021. We are generally positive about future demand for rough diamonds, given low stocks in the diamond pipeline and continued high demand from jewellery consumers," commented deputy CEO Evgeny Agureev.
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ALROSA is the leader of the world diamond mining industry, a Russian partially state-owned diamond mining company. ALROSA operates across nine countries and ten regions of Russia.