Moscow: According to their Q3 and 9M 2015 production and preliminary trading performance report, during the first nine months of the year, ALROSA’s production rose 16% to 29.6 million carats, while the company sold only 23 million carats for $2.7 billion across those 9 months. This represents a billion dollar decrease in comparison to the first 9 months of 2014 (28.8 mil cts @ $3.7 billion). Q3 rough diamond production increased by 20% to 11.6 million carats. Sales, again, were a different story, with Q3 sales of gem-quality stones at 3.0 million carats, a 43% decline from the 5.3 million carats of gem-quality diamonds in Q3 2014. This is hardly surprising, as it reflects the global slowdown in diamond demand.

Furthermore, the company notes that “ALROSA’s gem-quality rough diamond prices declined by 8% in line with the slowdown in the diamond market.” Notably, this offsets almost precisely the 7% rise in rough prices through 9M recorded last year. The statement says that production results were largely driven by the following projects: growth in diamond production at the Mir underground mine as a result of measures to stabilize its hydrogeological conditions; diamond output growth at Karpinskogo-1 pipe of Lomonosov deposit (Severalmaz); continued mining operations at the Botuobinskaya pipe, commissioned in Q1 2015; the Udachny underground mine development.