Alrosa Sales Plummet Amid Mine Suspensions

RAPAPORT... Alrosa's sales plunged 39% to $288 million in May due to apause in activities at some of the company's mines. "There was a planned decrease in sales in May compared tothe similar period last year due to the sale of...inventories...[at]the beginning of the year and a seasonal decline in the current production, mostlydriven by mining suspension at some alluvial deposits in the first months ofthe year," Alrosa deputy CEO Yury Okoemov said Friday. Rough-diamond sales dropped 41% year on year to $277.5million, while polished revenue more than doubled to $10.5 million from $4.5million. Total sales for the first five months of the year increased8% to $2.3 billion. Rough sales for the January-to-May period also increased 8%to $2.26 billion, with revenue from polished diamonds dropping 2% to $43.3million. Image: Alrosa