Alrosa’s second-quarter profit increased by 26% as the market recovered “faster than expected.”

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DIAMOND TIMES – In the second quarter, Alrosa had a $411 million profit. According to Mining Weekly, Russian mining company Alrosa made a net profit of $411 million in the second quarter of 2021, up 26 percent from the previous quarter.

Demand for diamond jewellery continued to recover in the second quarter, according to Alrosa CFO Alexey Philippovskiy, who added, “Our view for the end-consumer market rem ains favourable.” The market is recovering more quickly than we anticipated.” Diamond supply is 20% below pre-pandemic levels, according to Philippovskiy, and “global out put is unlikely to bounce back in the long term.”The Russian miner is on track to produce 31.5 million carats this year, with “an optimistic scenario” of additional 5% growth.