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Top diamond miner ALROSA posts $325M in January sales 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 January 2022 totaled $325 million, including proceeds from rough diamond sales of $315 million, and polished diamond sales of $10 million.

The company said that January saw continuing strong demand for diamonds from midstream companies seeking to stock up after a successful holiday season sales across all the key markets.

At the same time, ALROSA noted that sales have been capped by current production levels, similar to the situation seen in the second half of 2021.

"On the back of the changes in the sales mix and the price index's annual growth the average revenue per carat considerably increased from January 2021, when diamond miners had extensive inventories. Amid limited diamond supply globally, ALROSA continues with its measures to quickly respond to market demand by accelerating pre-sale diamond processing," added Deputy CEO Evgeny Agureev.

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.

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