Alrosa has "Colossal Safety Margin" to Survive Sanctions

By John Jeffay / January 17, 2024 / www.idexonline.com / Article Link

(IDEX Online) - Russia's finance ministry says Alrosa has a "colossal safety margin" and currently needs no intervention to survive sanctions imposed by G7 nations from 1 January.The state-controlled miner has previously offloaded diamonds it couldn't sell to the Gokhran - Russia's state-run repository of precious stones and metals.Russia's deputy finance minister Alexei Moiseyev told the Interfax news agency: "There is no indication yet that it will be required. The company has a colossal safety margin, it has negative net debt, and with a large margin."Alrosa's sales $4bn annually have, until now, been unaffected by sanctions. It sold 34.6m carats in 2023, despite halting all sales in September and October in a bid to stabilize prices.Moiseyev said the company was preparing for sanctions. "There was no secret about it, our opponents have been talking about it for a long time," he said. The new G7 package of sanctions, unlike those introduced by the US in 2022, will cover diamonds mined in Russia and then polished elsewhere.

Recent News

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com

Gold stocks gain even as metal pulls back

August 18, 2025 / www.canadianminingreport.com

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com

Tariff issue caused by potential definition change of traded gold bars

August 11, 2025 / www.canadianminingreport.com

US BLS head removed after revisions to employment data

August 04, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok