Alrosa Production +8% in H1, Revenues $1.9B (Updated)July 27, 11
Diamond production increased by 8% compared to the first half of 2010.
Alrosa's revenues, which usually include rough and polished diamonds, totaled 52.444 billion rubles ($1.91 billion), according to figures included in an investors results released Wednesday.
The average price per carat increased by 41% to $113 year-over-year, Alrosa reported. However, sales of 19.1 million carats at an average of $113 p/c are $2.158 billion, more than total revenues for the period. The reported average price likely reflects the achieved price in June and not an average for the six-month period.
On Tuesday, De Beers reported that it mined 15.5 million carats in the first half of 2011, less than Alrosa's production, however De Beers' rough diamond sales totaled $3.5 billion.
Alrosa posted a net income of 16.4 billion rubles ($597.4 million) in the six months ending June 30.