In connection with the difficult economic situation stemming from the crisis in the global diamond market, as well as a significant amount of capital investment in construction of underground mining, the Board of Russian diamond monopoly Alrosa has decided to propose to the company’s Supervisory Board to recommend to the shareholders’ meeting not to allocate [...]
Exploration & Mining
Russia’s Alrosa Signs Agreements with Rosy Blue, Diamond India and Ratilal Becharlal for $490 Million
ALROSA has signed three-year supply agreements with the Indian diamond manufacturers Rosy Blue, Diamond India Ltd. and Ratilal Becharlal & Sons for the amount of about US$490 million, in terms of the current market prices.
The contracts provide that the range and prices of the rough goods to be supplied will be agreed upon by the [...]
Company News
Alrosa Sells All Its Mining Production to the Market
pOver the first two months of 2010, Russian diamond miner Alrosa has registered stable demand for rough allowing it to sell all of its mining production on the market. The company has sold over US$667 million worth of rough and polished diamonds in January and February 2010./p
Company News
Fitch Ratings Upgrades Russian Diamond Producer ALROSA to ‘B+’
Fitch Ratings has upgraded Russian diamond producer ALROSA Company Limited’s (ALROSA) Long-term foreign currency Issuer Default Rating (IDR) to ‘B+’ from ‘B’, removed it from Rating Watch Negative (RWN) and assigned a Stable Outlook. Fitch has also upgraded ALROSA’s senior unsecured rating to ‘B+’ from ‘B’ and removed it from RWN. ALROSA’s Short-term IDR is [...]
Company News
Alrosa Rough Diamond Output $264.6 Million in 2009 According to Unaudited Results
During a regular meeting of the ALROSA Executive Board in Udachny in Yakutia, chaired by President Fyodor Andreev, the executive board reviewed the unaudited production results and financials of the ALROSA mining and processing divisions for 2009. The technical and performance indicators of the processing plants and dredges meet all the target parameters. The aggregate [...]
Industry News
Auction of Large Rough Diamonds (10.8 Carats and Up) to Take Place March 16 in Russia
There will be a public auction of special size rough diamonds weighing 10.8 carats or more at the Gokhran in Russia on March 16, 2010.
In order to take part in the bidding, a company must submit an application in writing by February 26, 2010, and pay a deposit on 30,000 Russian Rubles.
Company News
Russian Diamond Miner Alrosa Co. Ltd. has its Long-Term Corporate Credit Rating Reinstated by Standard & Poor’s
Standard & Poor’s Ratings Services has reinstated its long-term corporate credit rating on
Russian diamond miner ALROSA Co. Ltd. (Alrosa) at ‘B+’ and the short-term rating at ‘B’. Standard & Poor’s suspended the ratings on April 7, 2009. The outlook is positive. The reinstatement follows Standard & Poor’s receipt of sufficient financial and operating data on [...]
Asia
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 [...]
Company News
Diamond Miner Alrosa May Review Corporate Development Strategy Taking into Account Market Changes
Fyodor Andreev, President of Russian diamond miner Alrosa, has instructed that the diamond giant’s existing corporate development strategy for the period of up to 2015 should be reviewed to take account of the market changes affecting the company’s business.
The key objective of this work should be forming a goal-oriented model of the company’s long-term development, [...]
Company News
Alrosa Production in 2009 Nears $2.25 Billion; Production Target for 2010: $2.31 Billion
Diamond News – Mining: Russian diamond miner Alrosa Group produced diamonds to the value of $2.244 billion in 2009, selling diamonds worth $2.187 billion.
Regarding 2010, Alrosa plans to mine diamonds worth $2.314 billion.
Company News
Vasily Grabtsevich Appointed Vice President of Russian Diamond Miner Alrosa
Vasily Borisovich Grabtsevich has been appointed as Vice President of Russian diamond monopoly Alrosa.
Grabtsevich born May 9, 1950 in the village Nedoyka Buda-Gomel region. In 1972 he graduated from the Tomsk Civil Engineering Institute with a degree in civil engineer. In 1998 he graduated from the Academy of National Economy under the RF Government. Manager [...]
Company News
Underground Diamond Mine at Aikhal Commissioned
Diamond News: The Aikhal underground diamond mine, located in the Russian republic of Sakha (Yakutia) has been commissioned in the presence of Vyacheslav Shtyrov, president of Yakutia, Fyodor Andreyev, President of Russian diamond miner Alrosa, as well as employees of the diamond giant.
The new mine forms part of the Aikhal Integrated Mining and Processing Complex [...]
