Thursday, March 19, 2009

Alrosa Aims To Become World's Leading Diamond Miner ---Presently accounts for 25% of global diamond output

En.rian.ru reports that Russia's largest diamond company Alrosa could become the world's top diamond mining company, and is considering buying foreign assets, the company CEO said.
Sergei Vybornov said Alrosa has an opportunity to seize the initiative and become the global leader amid the ongoing crisis, as the company has the world's best diamond resources in Yakutia in northeast Siberia, while its rival De Beers has had to cut output.
"There is also an opportunity to purchase very good diamond assets abroad - small companies that are going bankrupt or are on the verge of bankruptcy," Vybornov said.
Alrosa accounts for 97% of Russian and 25% of global diamond output. The Russian government holds a 50.9% stake in the company.

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