Diamond major Alrosa has outlined a production target of 34,438,000 carats of rough diamonds for the year 2011. The decisions were made at the company’s regular Supervisory Board meeting in Moscow on December 28, 2010.

In the meeting, targets for diamond sales were set as -USD 3,526.00 million (for the ALROSA Group), USD 2,470.00 million (for ALROSA Co. Ltd.), and USD 160 million (for polished diamonds sales). Also, net profit projected is worth RUB 10,542.3 million.

Alrosa also recently won bids to develop three alluvial diamond deposits in Yakutia, which are - Gusiny Ruchei (stream), the Ebelyakh River and the Dalnyaya Pipe. The tender for the bid was held in Moscow. ALROSA's winning bids paid out about $20 million for the projects.

Also, included in the targets for 2011, is a focus to reduce the aggregate debt to a level below USD 3 billion and converting almost 90 percent of the obligations into long-term loans.