Image credit: Kristall (Facebook)
ALROSA announced that it will invest more than 100 million rubles in the technological development of Kristall Smolensk in 2021 and plans to ensure full utilization of its cutting capacity.
According to Sergey Ivanov, general director of ALROSA, the last seven months have been a difficult test for the company as a whole and for the staff of the Kristall plant. The COVID-19 pandemic has had an unprecedented impact on the diamond industry.
As a result of the subsequent lockdowns and border closures, starting in March 2020, diamond trading in major world markets has virtually stopped. Import and export operations of the main cutting centers in the first half of the year fell by almost 60% compared to the same period in 2019. At the same time, it became necessary to ensure maximum protection of the personnel of the Kristall plant from the threat of the spread of coronavirus infection.
In the current conditions, Kristall had to take measures related to both staff reduction and the introduction of downtime and, subsequently, a part-time working week, according to a press release.
"Thanks to the positive developments in the global jewelry market that emerged at the end of the third quarter, the demand for diamonds gradually began to return. Already in October-November, this made it possible to increase the workload of several production sites under customer orders and, as a result, transfer employees of these sites to a four-day working week. From December 1, we plan to bring the plant to a full working week, " Ivanov said.
In 2021, the plant's operating mode will largely depend on how the macroeconomic and epidemiological situation develops. With the positive development of the market, ALROSA's management sees an opportunity to ensure full utilization of cutting capacities.
Alex Shishlo for Rough&Polished
