The Jubilee Diamond Mine Image credit: ALROSA
In a press release distributed on Wednesday, ALROSA said it netted $ 430 million from January diamond sales - $ 421 million for rough diamonds and $ 9 million for polished diamonds.
The company noted that the sales data for January are preliminary and subject to revision, and that more accurate and detailed information on sales results are published on a quarterly basis along with operating results.
In January 2020, ALROSA's revenue amounted to $ 405 million ($ 390.2 million for rough diamonds and $ 14.8 million for polished diamonds).
Commenting on the sales results, ALROSA Deputy CEO Evgeny Agureyev said: “The January sales results reflect the improvement in demand for jewelry products in the major sales markets - China and the U.S. Demand for rough diamonds was further supported by the absence of surplus stocks in the diamond manufacturing segment. This, in turn, is partly due to the fact that diamond manufacturers have a possibility to make purchases meeting their real needs."
Vladimir Malakhov, Rough&Polished
