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

Gold stocks down as risk on move continues

May 05, 2025 / www.canadianminingreport.com

Mixed outlook for resources on new Canadian government

May 05, 2025 / www.canadianminingreport.com

Gold's Bull Market Pullbacks

April 28, 2025 / www.canadianminingreport.com

Gold stocks down on metal drop

April 28, 2025 / www.canadianminingreport.com

Investment banks ahead of the gold price, institutions still behind

April 21, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok