Russia’s Alrosa sees diamond sales triple for second month in row as demand in US & China remains strong

In March, Russian gem miner Alrosa recorded a threefold year-on-year surge in sales of polished diamonds. At the same time, sales of rough diamonds more than doubled, according to the latest data revealed by the producer.

In monetary terms, sales of rough diamonds amounted to $345 million, while polished diamond sales totaled $12 million. Meanwhile, the miner’s sales revenue in March ran at $357 million, marking a four-percent decline compared to the previous month.

In February, Alrosa – the world’s leading diamond-mining company by volume – sold $361-million-worth of rough diamonds and $12-million-worth of polished gems, marking a 5.5% surge in sales of the former and a threefold growth of the latter year-on-year.

Overall sales of diamonds rose to $1,159 billion in the first quarter of 2021, against $904 million recorded in the same period a year ago.

“The results of jewelry sales in major market outlets, including the US and China, show that high demand from end consumers is maintained,” said Evgeny Agureev, Alrosa’s deputy CEO.

The company makes the top three of the world’s largest diamond-mining companies, as its share in the global diamond output stands at 25%. Angolan company Catoca, 41% of which is owned by Alrosa, mines 6% of the world’s output. In Russia, Alrosa operates in the remote Yakutia Republic and in the Arkhangelsk Region.

Its market capitalization makes up nearly $9.5 billion, and its public float totals 34%, with 33% owned by the Russian Federation. Yakutia owns another 33% of the company’s shares.

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