MOSCOW, Oct 12 (Reuters) - Russian state-controlled diamond
producer Alrosa expects its fourth-quarter sales to
stabilise year on year as demand for precious stones is
recovering, its chief executive, told a meeting with President
Vladimir Putin on Monday.
Alrosa, the world's largest producer of rough diamonds, has
been hit by the coronavirus pandemic, although demand started to
recover in August.
"We hope that in the fourth quarter we will be able to reach
amount of sales close to those of the previous year," Ivanov
told Putin. Alrosa sold diamonds worth $916 million in the last
quarter of 2019.
The government has been considering whether state precious
metals and gems repository Gokhran could buy $0.5 billion-$1
billion of the firm's rough diamonds to help it amid the
Alrosa is in talks with Russia's finance ministry over the
sale of some of Alrosa's diamonds to Gokhran, its CEO was quoted
as saying in the Kremlin statement.
A deal, which would improve the balance between global
production and consumption, is expected soon, Ivanov added,
without disclosing the size.
(Reporting by Maxim Rodionov and Polina Devitt; writing by
Polina Devitt; editing by Edmund Blair and Louise Heavens)