On Wednesday, December 17, Sergey Takhiev, Head of the Corporate Finance and Investor Relations Department at Alrosa, announced that the world’s economically viable diamond reserves—totaling 1.8 billion carats—would last approximately 20 years with an annual production rate of 90 million carats. Should current extraction rates be reduced, these reserves could extend to a period of 50-60 years.
“In current market conditions,” Takhiev stated, “the economically viable diamond reserves amount to 1.8 billion carats. At present production levels of 90 million carats per year, these resources will suffice for about 20 years. We do not anticipate an acute shortage in the near term but expect a gradual recovery in prices.”
