Finance
Russia's Alrosa 2024 diamond output falls by 4.6%
Published by Global Banking & Finance Review®
Posted on December 18, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 18, 2024
1 min readLast updated: January 27, 2026
Alrosa's diamond output fell by 4.6% in 2024 due to market challenges and sanctions, impacting sales to G7 and EU countries.
MOSCOW (Reuters) - Russian diamond producer Alrosa's output fell by 4.6% to 33 million carats this year, according to a statement by the government of the Yakutia region in Russia's Far East, where most of Alrosa's production is based.
Alrosa, the world's largest producer of rough diamonds by volume, announced plans last month to suspend some production in 2025 and cut staff as it grapples with low global prices. Last year it cut production by 2.8% to 34.6 million carats.
For Alrosa, the global industry crisis is exacerbated by a ban on Russian diamond sales to G7 and EU countries. The regional government said that, despite the crisis, Alrosa would pay more taxes to the regional budget in 2025.
"Despite the ongoing price crisis in the global diamond market and the continued sanctions pressure, the company's financial plan for 2025 anticipates an increase in contributions to the republic's budget," the statement said.
(Reporting by Anastasia Lyrchikova. Writing by Gleb Bryanski. Editing by Mark Potter)
The article discusses Alrosa's 4.6% decrease in diamond output in 2024 and the impact of global market conditions and sanctions.
Alrosa is reducing production due to low global diamond prices and sanctions affecting sales to G7 and EU countries.
Despite production cuts, Alrosa plans to increase its tax contributions to Yakutia's regional budget in 2025.
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