Alrosa 2008 Diamond Production Set at $2.289 Billion

Alrosa has set a mining production target of $2.289 billion for 2008, including $1.764 billion by Alrosa Co. Ltd. The Russian diamond group expects to generate sales of $2.921 billion, some of it of polished diamonds.

Sales by Alrosa Co. Ltd are comprised of $2.112 billion in rough diamond sales and $153.7 million polished diamond sales. The firm said it set a net profit target of RUB 10.146.5 million ($410.56 million).

Sales by subsidiary Alrosa-Nyurba, which operates two diamond mines in the Sakha republic, are expected to total $655.2 million.

Next year’s budget includes RUB 3492.5 million ($141.29 million) in exploration expenditures and a RUB 403.4 million ($16.32 million) investment in Research and development.

Next year the company intends to have a set list of regular clients in a Sight-like system.