OREANDA-NEWS. September 29, 2011. A meeting of ALROSA Supervisory Board took place in Yakutsk, reported the press-centre of ALROSA.

The Supervisory Board voted to approve the adjusted consolidated budget and the adjusted investment budget of OJSC ALROSA for 2011. The necessity to adjust the budgets was conditioned by the increased efficiency of rough and polished diamond sales, the changed parameters of average annual exchange rate USD/RUB, as well as the decision made on the level of strategic investors’ involvement in the projects of OJSC "Severalmaz" and OJSC "GMK "TIMIR", and a number of other factors.

The adjusted consolidated budget for 2011 provides for the following basic indexes by ALROSA Group:

diamond production — 34,438 thousand carats;

revenues from rough and polished diamond sales — USD 5,015 mln.

Based on the adjusted consolidated budget, the net profit under RAS of OJSC ALROSA has increased RUB 16,854.6 mln., and amounts to RUB 27,396.8 mln., OJSC "ALROSA-NYURBA" — RUB 5,162.7 mln., and amounts to RUB 8,503 mln., OJSC "Almazy Anabara" — RUB 1,718.3 mln., and amounts to RUB 3,424.0 mln., OJSC "Severalmaz" — RUB 533.3 mln., and amounts to RUB 19.6 mln.

The Board took note of the information "On the progress of the Innovation Development Program of OJSC ALROSA for the period 2011–2018" and approved the "Innovation Development and Technological Modernization Program of OJSC ALROSA for the period 2011–2018".

The Board Members heard the report on purchases of products, works (services) for the first quarter 2011 and instructed the Executive Committee of the Company to proceed with increasing the share of purchases through open tenders and electronic trading platforms.

The Supervisory Board endorsed the report on the results of issue of 7,364,965,630 ordinary registered non-documentary shares of the Company of RUB 0.5 par value (share placing — conversion at share splitting, the issue was registered by the Federal Financial Markets Service of Russia on August 25, 2011, the state registration number 1-03-40046-N).

The Supervisory Board approved the decision to invite a strategic investor in the project of development of iron ore deposits in South Yakutia (OJSC "GMK "Timir").