ALROSA, the Russian partially state-owned diamond mining company said its rough diamond sales are planned at the level of USD 3.5 billion for next year as it looks to cement its status as the world’s leading producer.
In a statement the company, which is scouring for diamonds in Botswana’s Orapa kimberlite region together with Botswana Diamonds, said Supervisory Board reviewed and approved the budget of the company and ALROSA Group for 2016.
“The 2016 mining operations plan is drawn up in accordance with ALROSA’s Long-term Development Program. Diamond production by ALROSA Group is expected at up to 39 million carats,” the release said.
“The key objectives of the 2016 production program is to reach the design capacity of the Mir underground mine and put the second start-up complex of the Udachny underground mine into operation in the second half-year.”
The statement added that rough diamond sales by ALROSA Group in 2016 are planned at the level of USD 3.5 billion taking into account a minimal demand growth.
“The budget caters for the anti-crisis measures with the cumulative effect of RUB 12 billion due to optimization of operating, investing and financial activities.”
The Supervisory Board also considered matters pertaining to the non-core assets disposal program including ALROSA gas assets, and approved a number of transactions. All agenda items were decided.
ALROSA and Botswana Diamonds Plc joint venture, Sunland Minerals, operates in Botswana and currently the companies jointly investigate four areas in order to discover primary diamond deposits and get licenses for their development.