The Joint Stock Company Alrosa was established by a decree of the Russian Federation President Yeltsin in February 1992.

Alrosa is the legal successor of the enterprises, organizations and other units of PNO Yakutalmaz (state-owned diamond mining company in the former USSR); some of the units within the structure of the Committee for Precious Metals and Gems under the Ministry of Finance (involved in sorting, preparation for shipment and shipment of rough diamonds); and V/O Almazyuvelirexport

Its shareholders are the Russian Federation represented by the Federal Agency for Management of State Property with 50.9% of its shares;
the Republic of Sakha (Yakutia) represented by the Ministry of Property Relations of the Republic of Sakha (Yakutia), with 32.0% of its shares;
the administrations of eight municipal districts of the Republic of Sakha (Yakutia) with 8.0% of shares; and other legal entities and individuals with 9.07% of shares.

Alrosa accounts for 25% in the global diamond production in terms of value, is among the top 10 most efficient Russian enterprises, and accounts for 94% of Russia’s overall diamond output.

The miner's probable reserves make up about one-third of the world’s diamond resources. About 95% of Alrosa's total diamond production in terms of value are gem and near-gem quality diamonds.The firm has its own advanced exploration complex enabling it to maintain and expand its proven reserves.

In 2011, the Alrosa Group enterprises diamond production amounted to 34.6 million carats, while rough diamond sales totaled $4.46 billion, the largest amount the company has sold. Alrosa's cutting and polishing branch, Brillianty ALROSA, produces and sells some $140.0 million worth of polished diamonds annually.

Alrosa uses advanced technology and relies on its own unique technological experience of mining in the harsh climate of the Russian Far North.

The current average annual core product sales revenues (including those generated by the company’s subsidiaries) amount to over $2.7 billion.
The company is developing a new distribution network based on a combination of long-term partnerships with major purchasers of rough and polished diamonds and regional diversification of sales.

In late 2012, Alrosa signed long-term agreements for the supply of rough diamonds to Rosy Blue, Tiffany & Co, and Hong Kong-based jeweler Chow Tai Fook.