(IDEX Online) – ALROSA reports diamond production volume in 2018 at 36.7 million carats and sales of 38.1 million carats (down 8%). Sales proceeds increased by 6% to $4.5 billion. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
In Q4 2018, diamond production decreased by 2% q-o-q (up 2% y-o-y) to 10.3 million carats driven by seasonal suspension of production at alluvial deposits, which was almost fully offset by increased output at underground mines. In 12M 2018, production declined by 7% to 36.7 million carats due to the shutdown of the Mir underground mine (UM) and the completion of open-pit mining at the Udachnaya pipe.
In Q4 2018, the volume of processed ore and gravels went down 2.3 times q-o-q (up 3% y-o-y) to 7.5 million tonnes, due to seasonal suspension of production at alluvial deposits. In 12M 2018, it grew by 3% to 40.5 m tonnes mainly due to increased gravel processing at Almazy Anabara alluvial deposits (up 8%) and Mirny Division (up 10%).
In Q4 2018, the average diamond grade per tonne of ore increased 2.3 times q-o-q (down 0.2% y-o-y) to 1.38 cpt, mainly due to seasonal suspension of production at alluvial deposits.
For all of 2018, the average diamond grade was flat at 0.91 cpt. A 10% y-o-y decrease was mainly driven by the shutdown of the Mir underground mine in August 2017 and increased production at lower-grade assets.
Q4 rough diamond sales (ex. polished diamond sales) were 9 million carats (up 34% q-o-q), including 5.3 million carats of gem-quality diamonds (up 12% q-o-q) and 3.7 million carats of industrial diamonds (up 87% q-o-q).