Russian diamond giant Alrosa held a Supervisory Board meeting in Moscow this week.

According to a press release, Alrosa decided to convene the next annual general shareholders meeting on June 26, 2010 in Mirny, Republic of Sakha (Yakutia).

The diamond giant's shareholders stand to discuss, among others, Alrosa's annual performance report, financial statements, profit distribution, and dividend allotments.

Alrosa's Supervisory Board also reviewed development guidelines for 2010-2012, including, the diamond company's financial model for the next three years, as proposed by the Company’s Executive Committee.

The model provides for the production by the Alrosa Group of companies of 102,321 thousand carats of rough diamonds over the projection period. The aggregate proceeds from rough diamond sales are expected to reach $9.54 billion.

The board further tasked the Executive Committee to ensure lower credit and loan service costs.

According to the proposed financial model, by 2012 the Company’s aggregate liabilities should not exceed $3 billion.