Russian diamond giant Alrosa Q3 output falls
Russian Alrosa, the world’s largest diamond producer by carat, said Monday its third-quarter production dropped 2% as a consequence of a shift to underground production at one of its mine in the country's Far East.
The company’s total diamond production for the quarter reached 9.7 million carats, slightly down from 9.9 million carats in the same period a year ago, Alrosa said in the statement.
"The production decrease was mainly driven by the reduction in ore processing at the Udachnaya pipe in line with the company's plan for the transition to underground mining at the deposit," the miner said.
Alrosa’s rough diamond sales were up 8% for the first nine months of 2014 compared to the same period last year at 28.8 million carats or $3.7 billion.