Industry News by Nemesis

ALROSA Subsidiaries To Commission Nine New Diamond Deposits by 2025

January 25, 2017

Rough-Polished, citing Russian News Agency Tass, reports that nine new diamond deposits in two Arctic regions of Yakutia will be commissioned by 2025 by ALROSA subsidiaries, according to Vasily Zakharov, the first deputy minister of Industry and Geology of the Republic of Yakutia. 

 

"In 2016-2025, the two companies – Nizhne-Lenskoye and Diamonds Anabara (ALROSA subsidiaries) will commission nine new locations in two Arctic regions," - he said.

 

Rough-Polished adds that, by 2025, companies plan to invest 2.8 billion rubles ($47 million) in the construction of industrial facilities.

 

Capital investments in modernization and replacement of worn-out equipment is planned in the amount of 19.3 billion rubles ($326 million). Also, exploration costs may amount to 7.5 billion ($127 million) rubles.

 

Currently, the companies are the owners of the licensed subsoil areas. They conduct the search, exploration and development of alluvial and kimberlite diamond deposits.

 

Source: The Diamond Loupe

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