23/10/2014 23:56
RIA Novosti

Business

Diamond producer Alrosa to resume market diamond sales in May

11:27 06/05/2009
ST. PETERSBURG, May 6 (RIA Novosti) - Russia's largest diamond miner, Alrosa, will resume in May the sale of diamonds, earlier suspended over the ongoing economic crisis, the company's CEO said on Wednesday.

"We are restarting sales in May," Sergei Vybornov said.

Vybornov said Alrosa had already signed contracts with five companies on diamond sales worth some $300 million by the end of the year.

Alrosa accounts for 97% of Russian and 25% of global diamond output. The Russian government holds a 50.9% stake in the company.

Vybornov also noted that market prices for diamonds were currently around the mid-2007 level.

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