Renowned economist Mikhail Delyagin has become a shareholder of diamond mining company ALROSA, following purchase of 9,000 ordinary shares, Bfm.ru reports. Delyagin explained on his website, that the above investment is deemed as advantageous. “This is not Gazprom of the era before Shuvalov, but the company’s diamond production surpasses that of De Beers,” - the economist noted.
According to some experts, in the case of ruble depreciation ALROSA’s profit will grow more compared to the other major companies, including miners. “It seems I’m not the only person to appreciate this rating - the market is growing up albeit slowly,” - Delyagin said.
As of mid-day Tuesday ALROSA’s shares were traded at 36.88 rubles per unit.
In 2013 ALROSA Group increased diamond production by 7%, with revenue up by 10%. The group accounted for about 94% of the total diamond production in Russia. ALROSA’s diamond reserves account for about a third of the global reserves.
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