Russia’s Finance Ministry is currently monitoring the trends of the diamonds market, planning to decide on acquisitions of diamonds from Alrosa to the State Precious Metals and Gems Repository (Gokhran) at the end of the second quarter, Deputy Finance Minister Alexey Moiseev told domestic reporter.
He confirmed the information that the Finance Ministry had made a provision for purchases of diamonds from Alrosa to Gokhran for 2025. “At this stage we are monitoring the market dynamics so far, indeed, it is rather weak, though not much time has passed,” he said.
“Fundamentally, the first quarter is rarely strong. I think that we will actually see how much the situation has changed structurally, or this has rather been a seasonal factor, at the end of the second quarter, and then we will be taking a decision,” the official added.
Earlier, Moiseev said that the Finance Ministry was considering the possibility of acquiring diamonds from Alrosa to Gokhran in 2025.
Alrosa’s mining assets are located in Russia, specifically in the Republic of Sakha (Yakutia) and the Arkhangelsk Region. The company covers every aspect of diamond production — from geological exploration to the creation of polished diamonds and jewelry. Its shareholders are the Russian Federation (33.03%), Yakutia (25%), and the republic’s districts (8%). Around 34% of the company’s shares are in free float.
Net profit of Alrosa under the International Financial Reporting Standards (IFRS) fell by 77.4% in 2024 to 19.25 bln rubles ($217 mln). Revenues from sales declined by 25.9% year on year to 239 bln rubles ($2.7 bln).
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