Alrosa Could Diversify Beyond Diamonds

By John Jeffay / June 19, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Alrosa says it may diversify into mineral resources beyond diamonds in response to "the new geopolitical environment". Pavel Marinychev, new CEO of Russia's state-controlled miner told the Interfax news agency that rough diamond sales were under pressure.So while the company was working to preserve current channels, it was also seeking to establish new ones to secure its long-term growth."There are promising sectors in which the company is already engages. For example, the energy component of our company is developing fairly actively and dynamically," he said.Alrosa, the world's largest diamond producer by volume, was currently in negative net debt, he said.But it needed to plan for a future without the western mining machinery that it can no longer import because of sanctions.The company has previously diversified, into gas and iron ore, but sold its gas assets and is seeking a buyer for its iron assets, according to Interfax. Pic courtesy Alrosa shows Pavel Marinychev

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok