OREANDA-NEWS. June 04, 2010. President of ALROSA Fedor Andreev held a working meeting with the Company management to discuss ALROSA’s future development prospects, current financial position and sales policies, reported the press-centre of ALROSA.

Fedor Andreev discussed the results of its working meetings with deputies of the State Assembly (Il Tumen) of the Republic of Sakha (Yakutia) devoted to converting ALROSA into a public joint-stock company. It was assigned to the managers to prepare additional information about implementation of ALROSA’s social policies in the Republic of Sakha (Yakutia) and possibilities of increasing its tax basis by means of implementing its industrial projects in the territory of Yakutia.

In May 2010, the ALROSA Group sold rough for over USD335 million. The Company plans to supply rough and polished to the market to a total over USD2 billion as a result of the first half of the year. ALROSA appreciates the results of its mutually beneficial cooperation with its clients under existing long-term contracts.

ALROSA continues its program of restructuring its short-term debts. As a result of the half-year, the Company plans to reduce its total debt down to USD 3.5 billion, compared to former planned target of USD3.7 billion. Such reduction in ALROSA’s liabilities is possible due to its over-plan profit. The actual profit of the Company as a result of the first four months of 2010 is about 7.8 billion rubles.