Russian diamond giant Alrosa posts $134 million net loss as revenue drops 36%
Russia’s Alrosa, the world's largest diamond mining company, reported a net loss of 10.67 billion rubles ($134.1 million) for the first half of 2026, Interfax reported on July 31.
Russian diamond mining giant Alrosa announced a net loss of $134.1 million for the first half of 2026, marking a significant downturn from the $490.1 million profit earned during the same period last year. The non-operating income, which reached $667.3 million in 2025 due to a $377 million stake sale in Catoca, an Angolan mining enterprise, dropped to a mere $30.2 million this year.
The company's revenue plummeted by 36% to $932.5 million in the first half of 2026, with its cost of sales decreasing by 20% to $873.4 million. Alrosa reported a $62.8 million operating loss in the first half of 2026, a stark contrast to the $241.3 million operating profit in the same period of 2025. Despite these challenges, Alrosa suspended mining operations at Severalmaz, a diamond-producing subsidiary accounting for 10% of Russia's diamond output, citing a strategic move towards operational and financial sustainability. The company plans to potentially mothball several surface mines in 2026.
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