25 October 2018
Mining giant Alrosa said diamond production in Q3 reached 10.5 million carats, up 23 percent from the previous quarter on the back of seasonal growth in output and production ramp-up in recently launched assets.
The figure is 2 percent higher from the same period last year. From January to September however, output fell 11 percent to 26.4 million carats mainly due to the shutdown of the Mir underground mine and the completion of open-pit mining at the Udachnaya pipe.
Rough diamond sales in Q3 meanwhile reached 6.7 million carats, down 26 percent from the last quarter. This includes 4.7 million carats of gem-quality diamonds and 2 million carats of industrial stones. Sales in the nine-month period were 29.1 million carats, a drop of 9 percent year on year.
Inventories at the end of Q3 hit 15.5 million carats, up 42 percent from the previous quarter and down 11 percent from the same period a year ago, driven by seasonal production growth at alluvial deposits and lower sales volumes.
Alrosa said its 2018 production forecast remains unchanged at 36.6 million carats, a decrease of 8 percent from last year.