Alrosa says Q2 output up 14%

Giant pink diamond. (Image: ALROSA)

Russian state-controlled miner Alrosa said on Thursday its second-quarter output rose 14% year on year to 9.7 million carats.

Alrosa, the world’s biggest producer of rough diamonds in carat terms, said diamond sales in the period were down 8% year on year to 8.3 million carats amid lower demand due to excessive stocking by cutters and retailers as well as difficulties faced by India’s cutting business in securing affordable financing.

The company may fall short of its 2019 sales target of 38 million carats, Interfax news agency cited an executive at Alrosa as saying last month.

(By Anton Kolodyazhnyy and Maria Kiselyova; Editing by Tom Balmforth)

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