ALROSA Supervisory board approves 2015-budget

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At its meeting held on December 11 ALROSA Supervisory Board approved the Company’s consolidated budget for 2015.

According to the preliminary estimates, in 2014 rough diamond production by ALROSA Group will amount to 36.1 mln carats, and the total sales of rough and polished diamonds will exceed USD 5 bn.

In 2015 the Company will keep on focusing on the diamond business in line with the approved strategy. Next year rough diamond production will grow 2.1 mln carats as compared with 2014 to make 38.2 mln carats. The increased diamond mining on Mir, Udachny and Internatsionalny underground mines in accordance with the mining development plan and the first production on Botuobinskaya and Karpinskogo-1 pipes are the major growth drivers. The aggregate rough diamond sales by ALROSA Group in 2015 will amount to some 40 mln carats.

ALROSA’s mining assortment in 2015 will improve as compared with 2014 mostly due to the start of underground diamond mining on Udachnaya pipe, commissioning of Karpinskogo-1 pipe and improved assortment of Internatsionalny underground mine.

In 2015 the Company is planning to withdraw from nine business related affiliates and controlled companies in the scope of its non-core assets disposal program.

ALROSA Supervisory Board also approved the long-term development program up to 2023 based on the current strategy of ALROSA Group, the Company’s long-term development plan for 2012-2021 and the program for innovation development and technological upgrade.

According to development program, ALROSA will increase rough diamond production up to 41 mln carats through reaching the design capacity of diamond deposits in the Arkhangelsk region and maintaining the current production level in the Republic of Sakha (Yakutia).

The Company will remain focused on exploration, mining and sale of rough diamonds. Successful implementation of the development program will allow ALROSA Group to strengthen its leadership on the diamond market, ensure the stable long-term growth of production and proceeds, as well as the growth of shareholder value.

This page was last updated on 11 December 2014 at 17.05