OREANDA-NEWS. July 23, 2014. ALROSA reports Q2 and H1 2014 production results and preliminary sales results.

Production results

ALROSA’s H1 2014 diamond production totaled 15.9 million carats, which is 7% lower compared to H1 2013. The production decrease was mainly driven by planned annual maintenance works at Processing Plants No. 8 of Aikhal Division and No.12 of Udachny Division.

The Company notes a 2.3 times production growth in H1 2014 at Severalmaz following the launch of the second module of the site’s processing plant, and confirms the previously announced mining guidance of 36 million carats for ALROSA in 2014.

Preliminary sales results

According to preliminary data, in H1 2014 ALROSA sold 21.1 million carats of diamonds, revenue from rough diamond sales grew by 13% y-o-y and amounted to USD2.7 billion.

The Company notes a positive performance of the diamond market during H1 2014 with rough diamond prices going up by around 6% since the beginning of the year.

During Q2 2014, ALROSA sold 8.4 million carats of diamonds, including 6.1 million carats of gem-quality diamonds with an average price of USD 200 per carat, and 2.3 million carats of industrial diamonds with an average price of USD 11 per carat.