On October 5, 2009 a regular weekly management meeting was held by ALROSA President Fyodor Andreev.
The agenda included discussion of ALROSA’s preliminary results for 9 months of 2009, core product marketing and sales related issues, and the company’s current financial and production statuses.
For 9 months of 2009 the consolidated core product sales (i.e. rough and polished diamond sales) of ALROSA Group, including its sales to Gokhran of Russia, amounted to USD 1.34 billion. In September 2009 ALROSA sold USD 651.5 m worth of rough diamonds. The largest buyer of the goods was the RF State Depositary of Precious Metals and Gems.
During Q3 of 2009 ALROSA reduced its overall debt portfolio by USD 288 m.
The President directed that proposals for the implementation of sales policies taking into account possible deterioration of business conditions in the world diamond market in 2010 should be developed, further to be approved by the Company’s Supervisory Board.
Also changing the procedure and system of interaction with ALROSA subsidiaries and affiliates was discussed.