Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The results are in from ALROSA’s rough diamond auction (over 10.8 carats) held in Dubai from January 19 to February 9.
The company sold 104 rough diamonds with the total weight of 1,500 carats. The overall revenue amounted to $10 million, ALROSA said in a media release.
Clients from Belgium, India, Israel, UAE and the US (39 companies in total) purchased the stones.
“Demand for our rough began to recover late last year and now remains stable,” said Evgeny Agureev, Deputy CEO of ALROSA. We sold over 80% of auctioned lots and proceeds were good.”
