Alrosa Reports 9% Increase In Q313 Diamond Output
News: Russia ' s state-owned mining company Alrosa has posted a 9% y-o-y increase in its Q313 diamond production, Mineweb reports. The increase puts the company ' s total diamond production up to 9.9mn carats for the quarter. The company attributed part of the increase to its acquisition of the Nizhne-Lenskoye diamond mine in Russia ' s Republic of Sakha.
BMI View: We forecast Russia's mining industry value to reach US$173bn by 2017, growing at an annual average rate of 3.0% from 2012 levels. The country's mining industry will experience years of slowing growth as palladium and platinum production undergo modest increases over the coming years. Nevertheless, the coal sector holds much promise over the long term as the government plans to invest RUB3.7tn (US$120bn) in the sector between 2012 and 2030.