"During the period 2016-2025 gg. the two companies - "Lower Lena" and "Diamonds of Anabar" (ALROSA subsidiaries) will be put into operation nine fields on the territories of two Arctic regions ", - he said.
Until 2025 the company plans to master the 2.8 billion rubles of capital investments in the construction of industrial facilities. Investments in the modernization and replacement of worn-out equipment is planned in the amount of 19.3 billion rubles for exploration - 7.5 billion rubles.
At the moment, the company, being the owners of the licensed subsoil areas to search, exploration and development of placer and primary deposits of diamonds.
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Miners will remain under pressure over the next 12-18 months as slowing jewelry sales and a decrease in the availability of credit for the cutters to create a temporary mismatch between supply and demand, according to a special report, Moody's Investors Service, published on Monday. Despite the fact that in the first 11 months of 2015, rough prices have fallen by 18%, long-term fundamentals of the sector remain robust.
Moody's report, released under the title "Metals & Mining in the world. Miners may have even lower prices to restore demand ", available on the website www.moodys.com .
"Late in diamond prices decline, which fell by about 28% from the peak in 2014, may not be enough to revive demand, and we believe that the manufacturers may have to further lower prices, since the problems associated with supply and demand will remain and in 2016 - the author Denis Perevesentsev report, is vice president and senior loan officers Moody's agency. - the manufacturer's decision to reduce production and / or sales will help balance the market over the next 12-18 months. "
ALROSA (rated Ba2, stable), the largest diamond producer in the world in terms of carats, it has slashed prices by 3% in February 2015, followed by a further 3% in April and by 8% in the third quarter.
Similarly, De Beers (unrated), a subsidiary of Anglo American plc (rated Baa3 may be revised down) and the largest rough diamond producer by value, dropped prices by 8% between 2014 end and June 2015, and then another 8% - 10% in August.
Nevertheless, the weak currency will help producers to maintain diamond production outside the United States in the next 12-18 months, as their costs in dollar terms decreased in the same way as the price of diamonds, or slightly less, partly offsetting the negative impact of low prices.
Moody 's expects ALROSA least affected by the fall in prices for rough diamonds, as most of the costs of her in rubles, and the ruble is weak, down 42% against the US dollar in 2014, while revenues the company mainly in dollars.
Miners efforts to reduce production and / or sales volumes in 2015 in response to the tough trading conditions, as well as the natural depletion of existing diamond mines, will help prevent the advance of demand supply in the long term. The lack of discoveries of new deposits of diamonds and high rates of depletion of existing mines will help to prevent the oversupply of products on the market. Global production of rough diamonds will continue to grow moderately, and the cumulative annual growth rate of about 2% over the next five to seven years, after which it will begin to decline from 2023, which should support the ability of producers to control the diamond pricing.
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