19 Dec 2011 17:57

Alrosa expects 2011 diamond sales revenue of $4.45 bln

MOSCOW. Dec 19 (Interfax) - Alrosa expects 2011 revenue of $4.45 billion from the sale of cut and uncut diamonds, the diamond miner said in a statement.

Alrosa chief Fyodor Andreyev made the forecast at meeting with company managers.

The Alrosa group mined 34.3 million carats of diamonds in 2010 and rough diamond sales came to $3.484 billion.

It plans to mine 34.6 million carats in 2012 and sell $5.1 billion in diamonds.

Alrosa said it had taken all necessary measures to maintain a fair price on the diamond market amid worsening market conditions. It had, for example, stopped selling under spot contracts and is focusing instead on long-term contracts with Russian and foreign buyers.