Russian jewelry giant Alrosa has just announced its plans to increase jewelry production over the 2010-2012 period to produce 102.3 million carats in rough diamonds. Known as Russia’s largest diamond company, and practically a monopoly, Alrosa is heavily engaged in all aspects of the diamond process, including exploration, mining, manufacture and sale. The Alrosa behemoth actually accounts for nearly 25% of the world’s rough diamonds supply and nearly 97% of the Russian supply, according to the New York Times.
Alrosa’s plan for the next three years will be presented for approval at the annual conference set to take place in June. The company plans to produce 34 million carats at $3.18 billion average production. Of course, sales dropped in 2009 to 32.8 million carats during the global financial crisis, with sales dropping further to $2.19 billion. The year before wasn’t quite so bad with sales totaling $2.93 billion.
