The revenue of Production Association (PO) Kristall, a diamond cutting and polishing subsidiary of ALROSA, amounted to 3 billion rubles ($33.7 million) in 2023, according to Vasily Anokhin, governor of the Smolensk Region.
“The enterprise continues to implement optimization measures aimed at improving the quality, efficiency and reducing the cost of processing rough diamonds, increasing the flexibility and forward momentum of production,” Interfax quotes Anokhin as saying.
Also, according to the governor, PO Kristall is investing into re-equipping production with high-tech machinery and software, as well as improving IT infrastructure. The company employs 1,151 people.
Anokhin noted that all of the abovementioned measures make it possible to support the operational activities of the company and increase the volume of rough diamond processing every year. At the same, the company is going to shift its focus to the domestic jewelry market due to sanctions imposed on Russian rough and polished diamonds by the G7 and the EU.
Diamond processing volumes at PO Kristall amount to about 150,000 carats per year. The last published financial report by the company was in 2021 when it earned 1.57 billion rubles and registered a net profit of 263.4 million rubles.
Theodor Lisovoy, Editor in Chief, Rough&Polished
