Market NewsCommentSakha polishing results show strong growth

Sakha polishing results show strong growth

Production value figures for diamond cutters in the Russian republic of Sakha (Yakutia) showed polished output grew in value by 16% over the year 2007 to total $180.37 million, according to a press announcement from the Sakha Ministry of Industry. A detailed release said that domestic manufacturers within Yakutia produced $146 million worth of cut and polished diamonds while $34.37 million was outsourced to be cut and polished abroad. This total does not include diamond polishing by Alrosa, carried out largely in Moscow, which totalled $153.7 million in value; this was down 3.5% on the 2006 level. The Sakha diamond manufacturers report said that in aggregate, they made net profit of Rb37.1 million ($1.4 million) for the year, compared to Rb35.1 million ($1.3 million) in losses for 2006.

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