ALROSA president resigns for health reasons

ALROSA"s "Mir" open-pit mine, Mirny, Yakutia. Source Wikipeida.

Fyodor Andreev, the president of Russian diamond giant ALROSA, is resigning due to medical reasons.

Andreev announced the decision at the company's weekly management meeting on Sept. 22.

First vice-president Ilya Ryashchin will take over as acting president of ALROSA.

Alrosa is Russia's largest diamond mining company. It controls approximately 95% of Russia's diamond production. The company is owned by various government bodies.