Industry News by Nemesis

Grib Mine Produces Three Massive Diamonds

August 7, 2019


AGD Diamonds has unearthed three rough stones over 100 carats from its Grib mine in Russia, including one it claims is Europe’s largest.

The company found the 222.09-carat stone on May 4, and named it Vladimir Grib in honor of AGD’s former chief geologist. 

The second stone, found on May 3, weighs 127.34 carats. The miner has called it Elisey Verichev, paying tribute to the AGD veteran who discovered the Lomonosov and Grib deposits. On July 18, the company discovered a 212.53-carat rough, which it named Lev Rovnin, after the former minister of geology of the Russian Soviet Federative Socialist Republic, who oversaw the discovery and development of the diamond deposits at Arkhangelsk. 

AGD, which operates the Grib mine, is owned by Otkritie Holding, a Russian company that purchased the business from Lukoil for $1.45 billion in 2017. While 5% of production remains in Russia for sale by the government, the remainder is exported to the group’s Grib Diamonds subsidiary in Antwerp. 

Image: The Vladimir Grib diamond. (AGD Diamonds)


Source: Rapaport

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