Russia’s government-owned diamond producer sold some $3.15 billion worth of rough and polished diamonds from January to August 2011, the company announced Sunday at a working meeting of its management.

Despite a recent correction in diamond prices, Alrosa projects that diamond sales will reach $5 billion by the end of the year.

As of the end of August, Alrosa’s credit portfolio amounted to $3.45 billion.

The meeting also addressed issues of industrial safety, particularly at the company’s underground mines, and implementing scheduled purchases.