Alrosa Sells $335 million in Rough Diamonds in May

Alrosa sold rough diamonds in excess of $335 million in May, the company said in a release last week. The company has been trying to maintain a monthly sales level of more than $300 per month since the start of the year, with a goal of $3.2 billion in annual sales in the next three years.

The Russian diamond company said it plans to sale $2 billion in rough and polished diamonds in the first half of 2010. That would translate into $1.6 billion in rough diamond sales and another $400 million worth of polished diamonds.

Alrosa estimates its profit in the first four months of 2010 at $247 million.

In related news, Alrosa said it continues its program of restructuring its short-term debts. As it is meeting its sales goals, it plans to reduce its total debt to $3.5 billion, compared to the former planned target of $3.7 billion.