Alrosa's Diamond Production Dropped

 Russian diamond producer Alrosa announced on Tuesday that its 2025 production is expected to be 29.7 million carats, in line with previous expectations, but down 10% from last year.

 The company's CEO, Pavel Marinychev, stated in a press release that despite Western sanctions and a downturn in the global diamond market, the company remains profitable. He did not disclose the amount of profit.

 Alrosa is the world's largest diamond producer, accounting for about one-third of global diamond production. In March, the company announced that it would temporarily close low-profit mines with production below 1 million carats and maintain its production forecast of 29 million carats for 2025.

 Alrosa Company stated that it will continue to develop its gold mining project and hopes to reach a designed annual capacity of 3.3 tons by 2030 at its Degdekan site in the Magadan region of Russia's Far East.