RAPAPORT. Alrosa has raised its production outlook for 2021 after rough-diamond demand picked up at the start of the year.
The Russian miner plans to recover 31.5 million carats this year, an increase from its previous forecast of 28 million to 30 million carats, it said Tuesday. That would result in a 5% jump in output versus the 30 million carats Alrosa produced in 2020.
“When we report out first-quarter results, investors will be surprised by the low level of inventory our company will have,” Alrosa CEO Sergey Ivanov said in a conference call following the release of the miner’s full-year earnings. “Not only our company, but the industry is low on rough.”
Alrosa has raised its production outlook for 2021 after rough-diamond demand picked up at the start of the year.The Russian miner plans to recover 31.5 million carats this year, an increase from its previous forecast of 28 million to 30 million carats, it said Tuesday. That would result in a 5%.