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

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