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Alrosa to cut diamond output by a fifth

LONDON, April 15, 2009 – Russia’s state-run Alrosa has cut its 2009 output plans by a fifth due to weak demand for diamonds and the decline of the rouble.

“The corrected plans are justified by a number of factors, including the sizeable drop in sales volumes on the diamond market and the changes in the rouble’s exchange rate against the dollar,” the company said in a statement.

Alrosa has recently been selling its production to Russia’s Gokhran state repository.