This move will enable the Company to manage its assets more efficiently and to free up part of the management staff by bringing together the engineering and supporting functions, while the core production personnel will remain unaffected.

 

The management teams of both divisions are based in Mirny. They are to be transformed into a single management function of the Mirny-Nyurba Division.

 

“Combining of the two management teams has been considered by the Company many times before,” said Igor Sobolev, COO of ALROSA. “The recent industry crisis has spurred the process, and we started developing a thorough transformation plan in 2020. Starting August 2021 the new management structure will be implemented. Given the remoteness of the Mirny District and the resulting lack of qualified personnel, most of the freed-up employees will be engaged in ALROSA’s large-scale project on digital transformation in production and improvement of the management system. I would like to emphasise that this decision will affect only administrative and management team, but not core production personnel.”