Russian Diamond Miner Alrosa’s USO Sees Increasing Demand for Rough Diamonds in 2010; To Diversify Geographical Operations

The United Selling Organization of Russian diamond miner Alrosa (USO) has registered increasing demand for rough diamonds in the first weeks of 2010.

In January the Alrosa Group expects the total proceeds from core product sales (i.e. sales of rough and polished diamonds) to amount to over US$300 million. If this positive demand dynamics holds, Alrosa does not plan any rough sales to Gokhran of Russia in current Q1.

Fyodor Andreev, President of Alrosa, has instructed the USO to develop a program of geographical diversification of the company’s sales operations, in particular through extended presence in dynamic new markets, primarily in India and China, and through the conversion of foreign-based ARCOS network subsidiaries into full-fledged rough and polished trading offices.

Related posts:

1. Russian diamond giant ALROSA sold US$2.787 Billion worth of rough and polished diamonds in first 9 months of 2010
2. Indian Companies buy $550 Million of Alrosas Rough Diamonds in 2009
3. Russian Diamond Giant Alrosa Revises Rough Diamond Slaes Projection Upwards
4. ALROSA Diamond Group Rough and Polished Diamonds Sales to Reach US$5 Billion by the end of 2011
5. Alrosa’s Rough Production Target for 2009: US$2.1 Billion