ZAO Uralalmaz, the only diamond mining operation in Russia’s Kama River Basin, posted its operating results for 2011 in a report submitted to the administration of Krasnovishersky District of the Perm Region. Viktor Pankov, the head of the district, told the Kommersant Daily that Uralalmaz had managed to double its diamond output in 2011 compared to 2010. In 2010, Uralalmaz produced more than 40,000 carats of diamonds. In 2011, the company planned to reach the 2008 level (63,000 carats) and bring to grass 60,000-70,000 carats.
Leonid Lozhkin, CEO of Uralalmaz, declined to disclose the company’s performance figures for 2011. According Viktor Pankov, the achievements of Uralalmaz are associated with equipment modernization and newly launched capacities: “The company has commissioned a new production facility, No.7, and another facility is set to be started.” Two years ago, Uralalmaz announced its intention to invest about $100 million into technical modernization till 2015, which would secure expansion of diamond production to 120,000 carats per year.
ZAO Uralalmaz is affiliated with Leviev Group owned by Israeli diamantaire Lev Leviev. The company has not yet published its financial results for 2011.
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