Russian state-owned diamond company Alrosa said that it anticipates its revenues and profits to remain constant over the new two years, Rough and Polished reports. For both the current fiscal year and the next, Alrosa foresees earning $4.5 billion in revenues and netting profits of the equivalent of one billion dollars, Alrosa chief executive officer Fyodor Andreev said. The financial statement came on the heels of Andreev's meeting with the Russian President Vladimir Putin.

Andreev also affirmed that Alrosa intends to maintain the same annual level of rough diamond sales to Gokhran, the country's diamond and gem repository. Alrosa's yearly sales to Gokhran are valued at $100 million worth, according to Rough and Polished.

The comments come as the operators of the Grib mine in the Arkhangelsk region, the first diamond project to be developed in Russia independently of Alrosa, made its first detailed public presentation, in Toronto, Canada. Arkhangelskgeoldobycha said that the mine will go into production within the next six months and that it will produce 4 million carat of rough diamonds annually, according to Polished Prices.