ALROSA Executive Committee Considered Budget 2013 Target Parameters

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At the meeting held on November 26, 2012 in Mirny ALROSA Executive Committee considered the target parameters of the Company's consolidated budget for 2013.

In accord with the plan, diamond mining by ALROSA Group in 2013 is to reach 34.5 million carats.

The Company's forecast is a stable supply and demand balance on the world diamond market in the first quarter of 2013 with the prospect for further moderate growth. Thereby ALROSA assumes that the sales volume of rough and polished diamonds in total by ALROSA Group will remain at the level of this year - some USD 4.5 billion, that represents the Company's fair market share in the current pricing environment.

ALROSA's strategic goal in implementation of the operational program is the construction of underground mines. In 2013 production of diamond-bearing ore from the underground mines will grow more than 15% against this year. Some 10 million carats of rough diamonds will be mined in 2013 from the Company's underground mines.

Members of the Executive Committee also considered the results of the Company's operation for 9 months of 2012, including the report on the consolidated budget, the results of purchases and the results of operation of geological complex.

As a result of operation of ALROSA's geological subdivisions over 9 months of 2012, the aggregate reserves grew 31.4 million carats, first of all due to exploration of Ebelyakh and Gusiny placers. Exploration of the pipe Dalnyaya has been started, exploration operations at the Verkhne-Munskoe and Mayskoe diamond deposits, as well as prospecting and evaluation operations at the Zarya pipe have been continued in the reporting period.

This page was last updated on 26 November 2012 at 14.38