MOSCOW (Interfax) - Diamond production in Russia came to 35.14 million carat in 2011, Russia's Finance Ministry said in its materials.
Diamond output in 2010 came to 34.857 million carat. Therefore, production last year increased by 1%.
Russia’s biggest diamond producer, Alrosa, earlier said its group’s production in 2011 (including Alrosa itself and its subsidiaries Alrosa-Nyurba, Diamonds Anabara, and Severalmaz) came to 34.438 million carat of diamond. Therefore, the share of independent producers (Uralalmaz, part of Lev Leviev’s Ruis Group), and Yakutia-controlled OJSC Nizhnelenskoye) came to around 700,000 carat in production.
In value terms, diamond production in 2011 comes to $2.675 billion compared to $2.382 billion a year previous (up 12.3%).
This estimate was made based on the MinFin’s pricelist, which is significantly below Gokhran’s prices (which sells diamond under 10.8 carat in mass based the pricelist with a 36% markup). The ministry’s pricelist is updated every year. Prices for 2012 are higher than 2011. Therefore, the 36% markup is now the equivalent of a 45% increase in 2011, a ministry spokesperson told Interfax.
Alrosa’s sales revenue for 2011 came to $4.424 billion
According to the MinFin’s materials, diamond production in Russia in the first half of 2011 came to 18.278 million carat, valued at $1.272 billion. Production in the second half came to 16.862 million carat, which the ministry valued at $1.403 billion.
