Russia's Alrosa says it sold rough and polished diamonds with a value of $3.15 billion in January-August this year.

The mining giant is predicting total sales of $5 billion for all of this year, the company said in a statement.

Alrosa said it had seen some price corrections mostly as a result of sharp declines in speculative activity. "However, the overall volume of demand is stable, which gives grounds to Alrosa to leave its sales outlook at the level of $5 billion."

Alrosa said its total credit portfolio amounted to $3.45 billion for the first eight months of this year.

The comments were made after a meeting of top management chaired by Alrosa President Fyodor Andreev which also discussed marketing activities, industrial safety, and the current financial situation.