ALROSA maintains its target to produce 34-35 million carats of diamonds this year

ALROSA CEO Sergei Ivanov told reporters on the sidelines of the 25th St. Petersburg International Economic Forum that his company maintained its initial forecast for diamond production this year at 34-35 million carats, Interfax reported.
The head of ALROSA added that based on the first half results, the company's performance stays up to the forecast.
“No (we do not plan to lower our output forecast for 2022 - Interfax). We, I think, stay within the output target and so far, despite certain complications, we keep going exactly according to our plan staying somewhere in this range. We do not intend to decrease production in the second half of the year,” Ivanov said, noting that the company's capacity is fully loaded, and the investment program is being implemented.
ALROSA also intends to continue the Mir mine restoration project.
Speaking about the situation in the diamond market, Ivanov said that there is still good demand for rough diamonds and the company has not adjusted prices for rough diamonds since February. According to him, interest in ALROSA's goods is high, and new companies are emerging that are interested in occupying the niche vacated by some customers. “We see that diamond production cannot be increased by any other players, which is confirmed by all experts,” he added.
Ivanov also said that the possibility of purchasing some of the company’s goods by Gokhran is being discussed, but so far, the parties did not come to details.
In his opinion, the risk to maintaining demand for diamonds comes from the general macroeconomic situation characterized by high inflation and falling incomes of a significant part of the population.