ALROSA Supervisory Board Approves 2016 Budget

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

Western Australia Iron Ore Discovery Reshapes Global Market

Western Australia is now the world's biggest iron ore...

Africa Gold Mines: Second Largest Acquires Yatela, Morila

The Yatela and Morila gold mines were formally taken...

Africa Rail Infrastructure Powers Mineral Trade Growth

Africa rail Infrastructure is getting a new lease of...

US Eyes Rubaya Mine in Congo for Coltan Reserves

In a recent move, the Democratic Republic of Congo...

At its meeting held on December 22, ALROSA Supervisory Board reviewed and approved the budget of the Company and ALROSA Group for 2016.

The 2016 mining operations plan is drawn up in accordance with ALROSA’s Long-term Development Program. Diamond production by ALROSA Group is expected at up to 39 million carats. The key objectives of the 2016 production program is to reach the design capacity of the Mir underground mine and put the second start-up complex of the Udachny underground mine into operation in the second half-year.

Rough diamond sales by ALROSA Group in 2016 are planned at the level of USD 3.5 billion taking into account a minimal demand growth.

The budget caters for the anti-crisis measures with the cumulative effect of RUB 12 billion due to optimization of operating, investing and financial activities.

The Supervisory Board also considered matters pertaining to the non-core assets disposal program including ALROSA gas assets, and approved a number of transactions. All agenda items were decided.

ABOUT ALROSA

ALROSA is the world’s largest producer of rough diamonds in carats. ALROSA is engaged in exploration, mining and sales of diamonds. The Company’s operations are located in the Republic of Sakha (Yakutia) and the Arkhangelsk region of Russia. In 2014, the Company produced 36.2 mln carats of rough diamonds; 2014 revenue was RUB 207.2 bn.

Latest stories

Related stories

Western Australia Iron Ore Discovery Reshapes Global Market

Western Australia is now the world's biggest iron ore...

Africa Gold Mines: Second Largest Acquires Yatela, Morila

The Yatela and Morila gold mines were formally taken...

Africa Rail Infrastructure Powers Mineral Trade Growth

Africa rail Infrastructure is getting a new lease of...

US Eyes Rubaya Mine in Congo for Coltan Reserves

In a recent move, the Democratic Republic of Congo...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back