| Russian mining company Alrosa has announced the company's diamond sales results for November and the first eleven months of 2017, reporting total sales of rough and polished diamonds in November worth US$334.2 million. Breaking down the numbers, revenue from rough diamond sales in November amounted to US$325.8 million, with polished diamond sales reaching US$8.4 million. For the January-November 2017 period, Alrosa's rough and polished diamond sales reportedly reached US$4.029 billion. Total rough diamond sales for the eleven-month period were US$3.942 billion. Commenting on the results, Alrosa Vice President Yury Okoemov says, "Sales in November were consistent with our expectations. The core sales markets displayed strong demand for rough diamonds. The significant sales growth in monetary terms against last November (+36%) is due, in part, to the low base effect." Continues Okoemov: "As a result of the currency reform in India late last year, the demand for rough diamonds from small and middle-sized cutting and polishing companies in this country was temporarily reduced." |