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Russia's Alrosa third-quarter net profit halves on losses from flooded mine
November 17, 2017 / 6:02 AM / a month ago

Russia's Alrosa third-quarter net profit halves on losses from flooded mine

MOSCOW (Reuters) - Alrosa (ALRS.MM), the world’s largest producer of rough diamonds, said third-quarter net profit has halved to 12.95 billion roubles (164.16 million pounds) from the year-ago period, caused by losses related to a flooded underground mine.

    The company said it incurred losses worth 7.38 billion roubles from the flooded mine Mir.

    The profit for the period fell from 26.6 billion roubles earned in July-September 2016, while sales declined to 58.9 billion roubles from 68.9 billion roubles.

    Reporting by Anton Kolodyazhnyy, Writing by Vladimir Soldatkin; Editing by Sherry Jacob-Phillips

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