- Business
- PJSC ALROSA (ALRS.ME), the world's leading diamond mining company by volume, explores, mines, manufactures, and sells rough and polished diamonds; it produces natural diamonds, colored diamonds, and jewelry under the ALROSA Diamonds brand with Russian Cut standards; and operates sorting, valuation, and sales through subsidiaries including the United Selling Organization of ALROSA, Yakutsk Diamond Trading Enterprise, and Diamond Sorting Centers in Mirny and Arkhangelsk. The company develops 12 primary kimberlite pipes including Mir, Internationalnaya, Udachnaya, Nyurbinskaya, Botuobinskaya, Yubileynaya, and Lomonosov; and 8 placer deposits across subsidiaries such as Almazy Anabara and Severalmaz; with mining and processing divisions in Mirny-Nyurba, Aikhal, Udachny, and Lomonosovsky in Western Yakutia and the Arkhangelsk region. ALROSA markets its diamonds in key global centers including Antwerp, Mumbai, Dubai, Hong Kong, New York, and Vladivostok; targets jewelers, manufacturers, and industrial users; and previously held a 41% stake in Angola's Catoca mine, the fourth-largest kimberlite pipe globally. Founded in 1992 by presidential decree as Almazy Rossii-Sakha and headquartered in Mirny, Republic of Sakha (Yakutia), Russia, with additional offices in Moscow, the company accounts for 95% of Russian diamond production and 27% of global output primarily from open-pit and underground operations. In recent developments, ALROSA sold its 41% stake in Angola's Catoca mine in May 2025 amid sanctions pressure, with Oman's sovereign wealth fund replacing it as a shareholder; reached a new rough diamond sales agreement with Russia's State Diamond Fund in November 2024 for deliveries by year-end; and saw Russia's Finance Ministry consider additional purchases in 2025 to support liquidity amid market challenges. The company also launched a modern ore study complex in Mirny in 2024 and mined a 390-carat gem-quality diamond in 2023, highlighting ongoing operational advancements despite geopolitical constraints including U.S. and EU sanctions since 2022.