Work hard and you will find success

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ALROSA board reviews company budget targets for 2013

27 november 2012

The board of ALROSA reviewed the company’s consolidated budget targets for 2013 at a meeting held Monday in Mirny, according to a press release seen by Rough&Polished.
An output of 34.5 million carats was expected next year, the miner’s projection shows.
ALROSA also projected a stable balance between supply and demand in the global diamond market in the first quarter of 2013.
In this regard, the Russian diamond giant was expected to maintain its sales of rough and polished diamonds at this year’s level or about $4.5 billion.
Meanwhile, ALROSA said that it would next year increase the volume of ore mined underground by more than 15 percent over 2012.
This, it said, would see the underground mines producing about 10 million carats next year.
The ALROSA board members also reviewed the company’s performance in the first nine months of 2012, including the report on the implementation of consolidated budget, the outcome of procurement process and the results of geological operations.
A total increase in reserves reached 31.4 million carats during this period under consideration as a result of the work carried out by the company’s geological division.
The company also commenced exploration during the reporting period on the Dalnyaya Kimberlite Pipe and continued exploration work in the Verkhne-Munskoye and Maiskoye Diamond Fields, as well as the prospect evaluation survey on the Zarya Diamond Pipe.