29Dec
Diamond Miner Alrosa will Maintain “Prudent Sales Strategy”
(IDEX Online) – Alrosa says it will maintain its “prudent sales strategy” to safeguard the sustainability of the whole diamond pipeline.
Sergey Ivanov, CEO, (pictured) was addressing expectations for 2021 and beyond at an end-of-year meeting with banks and financial institutions, held online because of travel restrictions.
He said the Russian state-owned company was chasing prices and profit rather than volumes, and though he was “cautiously optimistic”, he acknowledged it would take time for the market to return to its pre-COVID levels.
“Looking back at the passing year with all its unprecedented challenges and measures taken by major diamond miners to stabilize the industry, we should remember that banks and finance organizations play an essential role in ensuring stability of the whole diamond value chain,” he said.
“Thanks to prudent and balanced approach of the capital providers, the mid-stream part of the value chain has restored its financial health and resilience.”
Credit: IDEX
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