Market NewsNewsAlrosa to diversify - report

Alrosa to diversify - report

Alrosa will be reformed as a commodity business under state control, Finance Minister Alexei Kudrin said July 6, according to Gazeta, a popular Russian daily.

Kudrin, who chairs Alrosa's supervisory board and reports to the government about the company's affairs, said Russia should accelerate the development of its Far Eastern mineral deposits, which will be accomplished by using huge government-controlled energy and mining companies, it said.

It reported the Finance Minister as saying that the reformed Alrosa would extend its operations beyond the Siberian republic of Sakha-Yakutia, where the company is headquartered, and well beyond its original business, into coal, oil, and natural gas.

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