Alrosa cuts production 3% to 34.6 mln carats in 2023

MOSCOW. Dec 22 (Interfax) - Alrosa has cut production 3% year-on-year to 34.6 million carats in 2023 and fulfilled the plan, CEO Pavel Marinychev said when presenting preliminary operational results for 2023 and plans for 2024, the company posted on its official Telegram channel.

Alrosa enterprises will operate at full capacity in 2024 to achieve the assigned tasks, Marinychev said.

Alrosa has met all key production and planning targets for 2023," Yakutia regional head Aysen Nikolaev commented on the results.

ALROSA, which controls almost a third of the global rough diamond market, has not published its production figures and mining plans since it was included in the SDN list in the spring of 2022. The company's former head Sergei Ivanov said late last year that the production target for 2023 roughly corresponds to production in 2022.

New sanctions restrictions on Russian diamonds, this time by G7 countries, will enter into effect starting in 2024. The G7 in December announced a direct ban on imports of Russian diamonds starting in January 2024, as well as a ban starting in March on polished diamonds cut from Russian rough diamonds in other countries. The main one is India, which accounts for 90% of the global diamond cutting and polishing industry.