Diamond Giant Alrosa Plans $2 Billion in Diamond Sales in 2009

Diamond Giant Alrosa intends to sell $2 billion worth of diamonds in 2009, according to the new president of Russia’s biggest diamond producer, Fyodor Andryev. Andreyev, who replaced former Alrosa CEO Sergei Vybornov earlier this month, stated that the diamond company intends to fulfill its $2 billion plan for diamond sales in 2009, and that the […]

Diamond Giant Alrosa intends to sell $2 billion worth of diamonds in 2009, according to the new president of Russia’s biggest diamond producer, Fyodor Andryev.

Andreyev, who replaced former Alrosa CEO Sergei Vybornov earlier this month, stated that the diamond company intends to fulfill its $2 billion plan for diamond sales in 2009, and that the first batch of diamonds worth $50 million has already been contracted.

According to Andreyev, Russia’s State Depositary for Precious Metals is going to be a significant buyer of Alrosa’s diamonds, in addition to potential diamond buyers from both Russia and other nations.

In 2008, the Alrosa Group’s rough diamond sales amounted to $2.18 billion, while polished diamond sales reached $157.5 million. Alrosa dominates the Russian diamond market with a 97% share, and provides 25% of the global diamond production.

Source: www.israelidiamond.co.il

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Posted: 2009-07-28 06:02:02

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