Following a strong recovery in December 2020, Alrosa reported a 43% jump in total diamond sales to $521.6 million, including proceeds from rough diamond sales of $470.3 million (34%), and polished diamond sales of $51.2 million (341%).
Alrosa said its total rough and polished diamond sales for the full year 2020 slipped 16% to $2,802 million, including $2,652 million of rough diamond sales (-19%) and $150 million of polished (131%).
“Strong sales of rough and polished diamonds by Alrosa in December were driven by the continued strong demand from the midstream as well as by one-off factors. In particular, revenue from the sale of polished diamonds was additionally supported by the sale of the previously accumulated stock and proceeds from the unique Spirit of the Rose diamond sale.
“High sales of rough diamonds in December generally reflected the current level of market demand. Alrosa continues to maintain maximum flexibility in satisfying only confirmed demand for rough diamonds, especially from cutting and polishing sector. We expect January sales to return to their average for this period, and figure on a stable demand and sales during the first quarter,” said Evgeny Agureev, Deputy CEO of Alrosa.