Russian miner Alrosa produced 7.48 million carats of rough diamonds in the first quarter of this year.

The Alrosa group's total sales of rough and polished diamonds in the first quarter amounted to $1.215 billion, a 5 percent rise on the same period of 2012.

"Against the background of the decreased supply by global producers, the increased demand on the rough and polished diamonds market in the first three months of the year [this] allowed Alrosa to achieve high rates in rough diamond sales.

"Having insignificantly adjusted rough diamond prices in the first quarter, Alrosa fixed the current level of the cost of rough diamonds being sold. The company’s conservative pricing policy is conditioned by the necessity of maintaining a moderate demand on the diamond market…"

Alrosa reported that it invested around $128 million (4 billion rubles) in the fixed assets in the first quarter, with some $57 million (1.8 billion rubles) on the construction of the underground mines at the Mir, Aikhal and Udachny operations.

IDEX