Russian Diamond Producer Alrosa's Profit Jumps on Higher Prices

Mined by Russian diamond producer Alrosa, the 14.83-carat diamond was cut from the largest pink crystal ever found in Russia. (AP)
Mined by Russian diamond producer Alrosa, the 14.83-carat diamond was cut from the largest pink crystal ever found in Russia. (AP)
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Russian Diamond Producer Alrosa's Profit Jumps on Higher Prices

Mined by Russian diamond producer Alrosa, the 14.83-carat diamond was cut from the largest pink crystal ever found in Russia. (AP)
Mined by Russian diamond producer Alrosa, the 14.83-carat diamond was cut from the largest pink crystal ever found in Russia. (AP)

Russian state-controlled diamond producer Alrosa on Friday reported second-quarter net profit of 30.2 billion rubles ($411 million), up 26% from the previous quarter, thanks to higher prices.

The world's largest producer of rough diamonds, which competes with Anglo American unit De Beers, is gradually restoring output after last year's 22% reduction to 30 million carats when global diamond sales were hit by the COVID-19 pandemic.

Net profit in the same quarter last year was a mere 300 million rubles ($4 million) because of the pandemic.

Demand for diamond jewelry continued to recover in the second quarter of this year, Alrosa finance chief Alexey Philippovskiy said in a statement.
"Our outlook for the end-consumer market remains positive.

The market is recovering faster than we predicted," he said, adding that diamond supply remains 20% below pre-pandemic levels and global production is unlikely to bounce back in the medium term.

Alrosa said it was on track to produce 31.5 million carats this year, with "an optimistic scenario" of additional growth of 5% growth.

The miner also cut its 2021 capital expenditure estimate by 4 billion rubles to 21 billion rubles, it said, adding that the board would recommend a dividend payment this month.



Japan Startup Hopeful Ahead of Second Moon Launch

Japan's Ryoyu Kobayashi soars through the air during the trial round of the Four Hills FIS Ski Jumping tournament (Vierschanzentournee), in Innsbruck, Austria on January 4, 2025. (Photo by GEORG HOCHMUTH / APA / AFP)
Japan's Ryoyu Kobayashi soars through the air during the trial round of the Four Hills FIS Ski Jumping tournament (Vierschanzentournee), in Innsbruck, Austria on January 4, 2025. (Photo by GEORG HOCHMUTH / APA / AFP)
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Japan Startup Hopeful Ahead of Second Moon Launch

Japan's Ryoyu Kobayashi soars through the air during the trial round of the Four Hills FIS Ski Jumping tournament (Vierschanzentournee), in Innsbruck, Austria on January 4, 2025. (Photo by GEORG HOCHMUTH / APA / AFP)
Japan's Ryoyu Kobayashi soars through the air during the trial round of the Four Hills FIS Ski Jumping tournament (Vierschanzentournee), in Innsbruck, Austria on January 4, 2025. (Photo by GEORG HOCHMUTH / APA / AFP)

Japanese startup ispace vowed its upcoming second unmanned Moon mission will be a success, saying Thursday that it learned from its failed attempt nearly two years ago.

In April 2023, the firm's first spacecraft made an unsalvageable "hard landing", dashing its ambitions to be the first private company to touch down on the Moon.

The Houston-based Intuitive Machines accomplished that feat last year with an uncrewed craft that landed at the wrong angle but was able to complete tests and send photos.

With another mission scheduled to launch next week, ispace wants to win its place in space history at a booming time for missions to the Moon from both governments and private companies.

"We at ispace were disappointed in the failure of Mission 1," ispace founder and CEO Takeshi Hakamada told reporters.

"But that's why we hope to send a message to people across Japan that it's important to challenge ourselves again, after enduring the failure and learning from it."

"We will make this Mission 2 a success," AFP quoted him as saying.

Its new lander, called Resilience, will blast off from Kennedy Space Center in Florida on January 15, along with another lunar lander built by US company Firefly Aerospace.

If Resilience lands successfully, it will deploy a micro rover and five other payloads from corporate partners.

These include an experiment by Takasago Thermal Engineering, which wants to split water into oxygen and hydrogen gas with a view to using hydrogen as satellite and spacecraft fuel.

- Rideshare -

Firefly's Blue Ghost lander will arrive at the Moon after travelling 45 days, followed by ispace's Resilience, which the Japanese company hopes will land on the Earth's satellite at the end of May, or in June.

For the program, officially named Hakuto-R Mission 2, ispace chose to cut down on costs by arranging the first private-sector rocket rideshare, Hakamada said.

Only five nations have soft-landed spacecraft on the Moon: the Soviet Union, the United States, China, India and, most recently, Japan.

Many companies are vying to offer cheaper and more frequent space exploration opportunities than governments.

Space One, another Japanese startup, is trying to become Japan's first company to put a satellite into orbit -- with some difficulty so far.

Last month, Space One's solid-fuel Kairos rocket blasted off from a private launchpad in western Japan but was later seen spiraling downwards in the distance.

That was the second launch attempt by Space One after an initial try in March last year ended in a mid-air explosion.

Meanwhile Toyota, the world's top-selling carmaker, announced this week it would invest seven billion yen ($44 million) in Japanese rocket startup Interstellar Technologies.

"The global demand for small satellite launches has surged nearly 20-fold, from 141 launches in 2016 to 2,860 in 2023," driven by private space businesses, national security concerns and technological development, Interstellar said.