Global Diamond Exchange, Inc. (GBDX)

[REVOLUTION2012]

Alrosa Plans for $3.66 billion in Rough Diamond Sales by 2015
(February 18, '08, 10:28 IDEX Online Staff Reporter)


In its long term development strategy report, Russian diamond miner Alrosa forecasts its rough diamond sales to rise to $3.664 billion by 2015. The figure includes $592.4 million in sales by its subsidiary, Alrosa Nyurba.


In addition, the forecast calls for polished diamond sales to reach $210.6 million, including $21.7 million in polished sales by Alrosa-Nyurba.


According to Alrosa’s development strategy plan for 2008-2015, annual mining capacity will rise to 32-35 million tons. In 2010, Alrosa is planning to mine $2.723 billion worth of rough diamonds and $3.403 billion in 2015.


During a presentation at the Third Rough Diamond Conference in Israel last week, Alrosa president Sergey Vybornov revealed the company estimates its diamond reserve at $109.3 billion adding that it should last for about 35 years.