Alrosa Considering Reducing Diamond Mining in 2025
Russian mining giant Alrosa is considering reducing production at its less profitable diamond deposits next year due to the challenges currently facing the diamond industry, said the company’s CEO, Pavel Marinychev, in an interview with Russian television, as reported by the Rough & Polished.
“The industry is currently experiencing another crisis […] we have been recording a steady decline in prices for the second year in a row […] We are in a period when we are forced to engage in optimization measures, when we are forced to carefully monitor our expenses, reduce our costs,” said Alrosa CEO Pavel Marinychev in an interview with the Almazny Krai TV channel, according to the report.
However, Marinychev emphasized that when the market recovers, Alrosa will be able to quickly increase production volume and return to previous levels of operation. None of the mines are expected to be completely shut down, according to the report.
“We see that demand is gradually recovering in the US – these are good signs before Christmas – a traditional time when sales grow. There is such a trigger that if sales start to grow during Christmas, then in 2025, with a careful sales policy, we can hope that prices will start to grow,” said Marinychev.
The post Alrosa Considering Reducing Diamond Mining in 2025 appeared first on Israeli Diamond Industry.
