On March 2011 the ALROSA Executive Committee held its regular meeting chaired by the Company’s President Fyodor Andreev in the administrative building of the Mir Underground Mine, a structural unit of the Mirny Mining and Processing Division of ALROSA.
The Executive Committee pre-approved the Company’s annual report, the balance-sheet, the profit and loss statement, and the use of net profit in 2010. The annual report and financials will be submitted to the Supervisory Board of ALROSA for final approval.
In 2010 the ALROSA Group of companies produced a total of 34.3 million carats. The sales of rough and polished diamonds amounted to USD 3,483.6 million. The proceeds of ALROSA Co. Ltd. amounted to RUB 96,820 million. The total amount of investments was RUB 29,974.5 million. The consolidated costs budget for prospecting and exploration, including on-mine-site exploration, amounted to RUB 2,845.5 million. The net profit of ALROSA Co. Ltd. was RUB 8,777 million, one and a half-fold exceeding the target.
The Executive Committee has proposed to the Supervisory Board that the net profit be distributed as follows:
— repayment of long-term loans — RUB 2,872.7 million;
— long-term financial investments — investments in financial assets — RUB 4,077.0 million;
— payment of dividends — RUB 1,827.5 million, or RUB 6,700.86 per share.
Also a few other matters related to the Company’s current and future operations were discussed.