According to ALROSA’s CEO Pavel Marinychev, the diamond mining company ended last year with positive financial results despite difficult conditions in the diamond industry.
"Considering the market trends that occurred, we ended the year with positive financial results. And this is during the time when we recorded a significant decrease in [diamond] prices on the world market," Interfax quotes the company's CEO as saying.
"The result of our work is good, taking into account the optimization measures that we carried out together," he added.
Meanwhile, Marinychev did not specify ALROSA's financial indicators for the year.
Last year, the diamond miner faced a number of difficulties: in addition to Western sanctions imposed on Russian diamonds, the situation on the diamond market remained difficult. Due to sanctions and associated reputational costs, the company was forced to sell its stake in the Catoca joint venture in Angola.
Theodor Lisovoy, Managing Editor, Rough&Polished
