ALROSA estimates diamond reserves at 1.1 billion carats

David Brummer

Russian miner ALROSA recently announced a review of its geologic exploration in 2015, and estimated that according to Russian state clarification standards its reserves stood at 1.108 billion carats.

Presenting the results, ALROSA president Andrey Zharkov said that the bulk of geologic exploration was carried out in the Republic of Sakha (Yakutia). The reserves of Mayskoe deposit, pipes Dalnyaya, Nyurbinskaya and Botuobinskaya were calculated and approved.

The company’s geologists carried out exploration at Verkhne-Munskoe deposit, Zarya pipe and deep layers of Internatsionalnaya pipe. Geologic exploration was completed on Pionerskaya and Pomorskaya pipes in the Arkhangelsk region. Following the exploration, ALROSA estimated that its reserves had increased by 43.57 million carats.

The company said that the cost of the exploration was RUB6.3 billion ($82.5 million), of which RUB 6.1 billion was spent at Yakutia.

ALROSA also conducted prospecting and geologic exploration in Africa, finding promising areas of diamond deposits in Angola, Botswana and Zimbabwe.

Zharkov confirmed that the company “will proceed with increasing the investments in prospecting and geologic exploration of diamond deposits in Yakutia, and will concentrate on the implementation of remote sensing technologies for prospecting of diamond deposits.”

Source Idexonline