Alrosa Offloads $19M of Non-Core Assets

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)