Supervisory Board of ALROSA grants the 2016 budget
ALROSA Supervisory Board officially agrees on the budget for the year 2016 in the meeting that held on 22nd of December. The decision that was pending, approved on the date and the company along with the whole ALROSA got a budget for 2016. The mining operation plan of 2016 is withdrawn in conformity with the ALROSA’s long-term expansion plan.
The world’s largest producer of rough diamond carat wise, ALROSA withdraws its 2016 mining operation plan in accordance with the Long-term Development Program of the ALROSA. The production of rough diamonds by ALROSA is expecting a rise that goes to 39 million carats. The key intention of the production program of the year 2016 is to reach the design capability of the mine located in Yakutia, Mir. Further, cast the second start-up complex of the ALROSA’s Udachny underground mine in Russia into operation in the second half of the year. The sale of the rough diamond by the ALROSA group in the year 2016 are premeditated at the level of 3.5 billion US dollars, taking into consideration a minimum demand growth. Further, the budget takes into account the anti-crisis measures along with the collective effect of Russian Ruble rates, 12 billion RUB due to the methodology of making something operating, investing and the financial activities. The Supervisory Board of ALROSA too regarded the matters about the assets that are either not essential or just no longer used in a company's business operations. ALROSA’s operations located in Yakutia along with the Arkhangelsk region of Russia are known to produce 36.2 m carats of rough diamonds in the year 2014 and the revenue earned in the same year was RUB 207.2 bn.