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ALROSA's Budget Plan Heads to Supervisory Committee

Projections include slight increase in production and stronger sales for 2012.
Dec 13, 2011 9:27 AM   By Jeff Miller
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RAPAPORT... ALROSA's executive committee signed-off on its 2012 budget today and submitted the plan to the company's supervisory board for approval. ALROSA's initial expectations for 2012 call for rough diamond production to increase slightly to 34.6 million carats and the sale of rough --and some polished-- goods will total $5.07 billion, perhaps representing a 10 percent to 15 percent rate of growth from 2011. ALROSA has not yet published full results for the current year, however, sales during the first nine months of 2011 were expected to have reached  $3.6 billion.  ALROSA will announce third-quarter results Thursday.

The committee expected that net profit in terms of local currency in 2012 is expected to increase nearly 17 percent year on year to $1 billion or RUB 34,120 million. Capital investment is expected to reach $690 million (RUB 21.8 million), which includes a 32 percent increase in construction expenses plus a 32 percent jump in  prospecting and onsite exploration.

Tags: 2012, Alrosa, budget, Jeff Miller, projections, rough, sales
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