Alrosa Announces Plans to Increase Production

(IDEX Online) - Alrosa says it plans to expand diamond production through Severalmaz, the subsidiary that accounts for around 10% of its output.

The sanctioned Russian miner says Severalmaz's production for 2024 and 2025 at its Lomonosov deposit remained constant, at almost 3.5 million carats annually.

"Severalmaz's stable operations are a key factor in the Arkhangelsk region's economy," said Pavel Marinychev, Alrosa's CEO, during a meeting with officials from Arkhangelsk, in northwestern Russia.

"The company is developing a long-term production agenda: it plans to expand diamond production at new deposits and strengthen cooperation with scientific and industrial centers in the region. This creates a solid foundation for the company's development over the next decades."

The announcement, reported today (9 April) by Alrosa, signals a determination to expand, in spite of sanctions (which it insists have not impacted its business), and a global slump in demand for natural diamonds.

Marinychev added: "We will invest in geological exploration, maintenance and development of our mining capacities in the Arkhangelsk region, increasing the efficiency and safety of production."

Alrosa has, meanwhile, been offloading as 30% of its production to Gokhran - the state-run repository - and is diversifying into gold and other areas. 

Pic shows Severalmaz's Lomonosov mine.