Alrosa lowered sales & earns more!
Lowered diamond sales by 8% & Sales proceeds increased by 6% Q4 and 12M 2018 operating results were announced by Alrosa. Alrosa, a global leader in diamond production, reports diamond production volume in 2018 at 36.7 m carats and sales of 38.1 m carats (down 8%). Sales proceeds increased by 6% to $4.5 bn. In Q4 2018, diamond production decreased by 2% q-o-q remained up 2% y-o-y to 10.3 m carats driven by seasonal suspension of production at alluvial deposits, which was almost fully offset by increased output at underground mines. In 12M 2018, production declined by 7% to 36.7 m carats due to the shutdown of the Mir underground mine (UM) and the completion of open-pit mining at the Udachnaya pipe. In Q4 2018, the volume of processed ore and gravels went down 2.3 times q-o-q registered up 3% y-o-y to 7.5 m tonnes, due to seasonal suspension of production at alluvial deposits. In 12M 2018, it grew by 3% to 40.5 m tonnes mainly due to increased gravel processing