off-the-wire

Alrosa flags smaller-than-expected decline in annual diamond output

Kitco Media
By Reuters
Published:
Updated:
Reuters
Alrosa flags smaller-than-expected decline in annual diamond output teaser image

Russian diamond producer Alrosa said on Tuesday that its 2025 output would amount to 29.7 million carats, beating its previous forecast but down 10% on last year.

CEO Pavel Marinychev said in a statement that the company remained profitable despite Western sanctions and a downturn in the global diamond market. He did not specify the level of profits.

Alrosa is the world’s largest producer of diamonds, accounting for around a third of global output. In March, it had said it would temporarily shut down low-margin assets with output of less than 1 million carats, and maintained its 2025 production target at 29 million carats.

Alrosa said it continues to develop its gold mining operations and aims to reach its design capacity of 3.3 tons of gold per year by 2030 at the Degdekan project in the far eastern region of Magadan.

(By Anastasia Lyrchikova and Mark Trevelyan; Editing by Frances Kerry)

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