October 29, 2020

Russia’s ALROSA leading global diamond production amid Covid-19 pandemic – Putin

“The world’s jewelry and diamond mining industry have been caught in a very difficult situation. Many of ALROSA’s competitors have practically stopped production, are laying off their employees in large numbers, and are on the brink of bankruptcy,” Putin said.

He added that “ALROSA, which is the largest diamond mining enterprise in the country, has now become the largest in the world.”

ALROSA accounts for over 90 percent of Russia’s diamond production. The pandemic forced the company to briefly suspend production at some of its fields in May.

Also on rt.com Coronavirus brings diamond sales to an almost complete halt

According to the company, its rough diamond sales grew 28 percent in September year-on-year, amounting to $328.2 million. It also sold polished diamonds worth $7.8 million.

In 2018, ALROSA opened a huge new diamond deposit in Russia’s northeastern region of Yakutia. The project was launched by President Putin, who said the new field “will strengthen Russia’s leadership in the global diamond market.”

According to the Russian president, “Russia is a country of enormous natural wealth, and the diamonds of Yakutia are another national treasure of which we are proud.”

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Article source: https://www.rt.com/business/503270-alrosa-leading-global-diamond-production/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

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