RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Alrosa Offloads $19M of Non-Core Assets

Company plans further sell-offs as it focuses on diamond business.
May 8, 2019 3:21 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Alrosa has sold a number of its non-diamond-related businesses in an effort to consolidate operations and focus on its diamond assets, it said Tuesday.

During the first quarter, the Russia-based miner disposed of 21 assets, including subsidiary equity stakes and real estate totaling RUB 1.24 billion ($19 million). The most significant of those was JSC Golubaya Volna health resort, which it auctioned for RUB 1.21 billion ($18.6 million).

Last year, the miner sold off gas assets, property and land for approximately RUB 31 billion ($447 million).

The miner wants to sell RUB 6 billion ($92 million) in non-core assets in 2019. It expects to sell an additional 69 non-core assets throughout the rest of the year.

Image: Flags outside an Alrosa facility. (Alrosa)
Tags: Alrosa, Diamond mining, non-core assets, Rapaport News
Similar Articles
Alrosa rough diamonds 150Alrosa Partners with Zimbabwe Mining Company
Jul 17, 2019
Alrosa has agreed to a joint venture with nationalminer Zimbabwe Consolidated...
Lulo Revenue Up in Second Quarter
Gem Diamonds Unearths 140ct. Rough
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us