OJSC Almazy Anabara +17.5% in 2011

OJSC Almazy Anabara (Diamonds of Anabar), a wholly owned subsidiary of ALROSA, increased diamond sales 17.5 percent year on year to $244.7 million, the company's general director, Matvei Yevseyev, said in an interview printed in the ALROSA corporate journal, Rapaport reported citing Interfax.
ALROSA's revenues amounted to $4.4 billion in 2011, according to the preliminary figures.  Given a favorable market, Almazy Anabara could double uncut diamond sales this year, Yevseyev said. The company mined $175.4 million worth of rough in 2011. Net profit rose 140 percent to $106 million.
Total sales of Almazy Anabara’s goods, products, and services (the company also has agricultural and timbering enterprises on its balance sheet) are expected to run to $259 million for 2011.
ALROSA will transfer to Almazy Anabara licenses to two diamond placer deposits in northwestern Yakutia - Ruchei Ebelyakh and Ruchei Gusiny - which it secured at auction last April. Reserves at Ebelyakh, with annual production from 1,200 cubic meters of sand, are sufficient until 2030, while reserves at Gusiny (500 cubic meters) will last until 2019, Yevseyev said.
Since the deposits were opened, Almazy Anabara has maintained diamond production at the previous level, and is creating favorable conditions for prospecting work along the entire Ebelyakh river basin, he said.