Diamond Miner Alrosa Will Maintain 2008 Diamond Production Levels
Post Date: 16 Jun 2009 Viewed: 668
Russian diamond mining giant Alrosa said it will keep diamond production levels in 2009 similar to the production levels of 2008 despite a drop in prices of rough diamonds and a decline in demand, Idex online reported.
Alrosa president Sergey Vybornov said in a news conference following the economic forum in St. Petersburg that sales of rough diamonds in March of 2009 were at a same level as they were in 2007 - about 15% lower than prices were in 2008.
Idex reported that some of Alrosa's buyers have stopped buying rough diamonds from the Russian diamond mining conglomerate, citing high prices. As a result, manufacturers prefer buying from other sources, including the open market.