Russia's Alrosa Says Diamond Sales Up 3.7% Year-on-Year In Jan-Nov, Total $4.1Bln

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Russia's Alrosa Says Diamond Sales Up 3.7% Year-on-Year in Jan-Nov, Total $4.1Bln

The sales volume of diamond products by Alrosa Group in the first 11 months of this year in amounted to $4.1 billion in value, a 3.7 percent increase from the same period of 2017, Alrosa company said in a press release on Monday.

MOSCOW (UrduPoint News / Sputnik - 10th December, 2018) The sales volume of diamond products by Alrosa Group in the first 11 months of this year in amounted to $4.1 billion in value, a 3.7 percent increase from the same period of 2017, Alrosa company said in a press release on Monday.

"ALROSA's total diamond sales in January-November 2018 grew 3.7% YoY and amounted to $4.2 billion. During the eleven months of 2018, rough diamonds were sold for $4.1 billion, polished diamonds - for $90.4 million," the press release read.

According to the press release, in November, the company sold diamond products in the total amount of $274 million, a 18 percent decline in comparison with the same month last year.

Sales of rough diamonds amounted to $266.6 million and polished diamonds to $7.4 million.

Alrosa is the largest diamond miner in Russia, accounting for 29 percent of global and 95 percent of Russian diamond extraction. The company mines diamonds in Russia's northern Yakutia and Arkhangelsk regions, where it explores 11 kimberlite pipes and 16 alluvial deposits. Alrosa conducts geological surveys in Russia and Africa to build up its resource base. In 2017, Alrosa increased diamond production by 6 percent to 39.6 million carats.