ALROSA reduced the forecast production for 20g to 28-31 million carats in response to the pandemic
MOSCOW, may 22 (Reuters) – Russian diamond monopoly ALROSA cut production plan for the current year to 28 to 31 million carats with 34 million carats in response to coronavirus crisis, said Friday the company.
The strategy Committee under the Supervisory Board of the company recommended that management take the proposals for the reduction of production volumes in the struggle with the crisis.
“The manufacturing slowdown is planned to provide at the expense of fields with lower margins because of the low performance and the price of mined diamonds,” – said in a statement.
ALROSA following the incident to stopping mines Aikhal and dawn freezes until October 1 production by another one – the Verkhne-Munskoe Deposit. These three assets in the past year we produced 4.1 million carats.
Pandemic and related restrictions around the world in April, almost completely stopped the trade in the diamond production of ALROSA (MCX:ALRS), the world’s largest producer of diamonds in carats.
(Anastasia Lyrchikova; editor Anton Kolodyazhny)