Alrosa cuts diamond sales target to $4.5 bln amid weak demand, prices

摘要

The Alrosa group, which sold $2,411 billion of rough and cut diamonds in the first half of 2012, is lowering its sales forecast for the year to $4.5 billion from the previously announced $5 billion due to falling demand and prices, preliminary management reporting obtained by Interfax shows. However, the first signs of a market revival are giving the company reason for "moderate optimism" for 2013.The Russian diamond miner's executive board will discuss the management materials on September 14.