By
Reuters
Revealed
December 18, 2024
Russian diamond producer Alrosa’s output fell by 4.6% to 33 million carats this yr, in keeping with a press release by the federal government of the Yakutia area in Russia’s Far East, the place most of Alrosa’s manufacturing is predicated.
Alrosa, the world’s largest producer of tough diamonds by quantity, introduced plans final month to droop some manufacturing in 2025 and lower workers because it grapples with low international costs. Final yr it lower manufacturing by 2.8% to 34.6 million carats.
For Alrosa, the worldwide trade disaster is exacerbated by a ban on Russian diamond gross sales to G7 and EU international locations. The regional authorities stated that, regardless of the disaster, Alrosa would pay extra taxes to the regional funds in 2025.
“Despite the ongoing price crisis in the global diamond market and the continued sanctions pressure, the company’s financial plan for 2025 anticipates an increase in contributions to the republic’s budget,” the assertion stated.
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