Russian diamond giant Alrosa was named the world's largest diamond producer in 2009, the Russian Information Center said.

According to the report, 2009 saw Alrosa mined 34.7 million carats compared to 24.6 million carats mined by the diamond industry's other leading power, De Beer.

The overall amount of diamonds produced in Russia reached $2.34 billion in value in 2009.

Alrosa ended 2008 with a reported loss of $1 billion. The diamond producer's management decided – in a move meant to save business and support the industry – not to sell the diamonds produced in 2009 to foreign markets, which suffered low demands. Instead, Alrosa sold the gems to the Russian State Depositary for Precious Metals.