(«Pravda Severa») - The AGD DIAMONDS Company, one of the flagships of the Arkhangelsk Province’s economy, sums up operating results for 2020.
The outgoing year has become a difficult one for the diamond industry all over the world; nevertheless, the Company managed to meet the annual production guidelines and continues upgrading its production facilities. Despite the downturn in the economy, the Company fulfilled all its social obligations to the main area where it operates. In 2020, AGD DIAMONDS’ tax contributions totaled 2.3 bn roubles to the budget of the Arkhangelsk Province and 30 mn roubles to the treasury of the Russian Federation .
Production: Unique diamond crystals
In 2020, AGD DIAMONDS’ production was 4.1 mn carats of rough diamonds recovered at the V. Grib Mining and Processing Division of AGD DIAMONDS. They include the unique crystals named after the people who have made a great contribution to the development of geological prospecting and diamond mining in the Russian North - Georgiy Georgiyev (86.46 ct), Yuri Konstantinov (53.95 ct), Boris Popov (50.36 ct), and Nikolay Laverov (108.38 ct). Another large rough diamond (66.15 ct) was named after Vagit Alekperov for his tremendous contribution to the construction of the V. Grib Mining and Processing Division. The Fyodor Abramov diamond (106.24 ct) was named after our outstanding fellow-countryman whose 100th birthday was celebrated this year.
The diamond sales auctions held in 2020 demonstrated a high demand for AGD DIAMONDS’ stones. Thus, in November and December, diamond trader Grib Diamonds NV owned by the company, successfully sold large quantities of rough diamonds through the auction system in Antwerp (Belgium).
According to experts, AGD DIAMONDS mines diamonds at the V. Grib deposit using up-to-date, environmentally friendly technologies and equipment that do not harm the environment.
AGD DIAMONDS achieved the best results among the diamond mining companies in the environmental responsibility
Exploration: in search of new pipes
In 2020, the geological department of AGD DIAMONDS continued its pro-active work on the search for new diamond deposits. In 2019, in the areas adjacent to the V. Grib deposit, a large-scale geological exploration was started, the first stage of which included integrated airborne geophysical, ground magnetic prospecting and electrical exploration aimed at identifying pipe-type anomalies having promising outlook for the discovery of kimberlite bodies. Based on the results of the exploration, some promising areas for drilling operations were identified. In February 2020, the locations of initial exploratory wells were fixed on the ground, and a winter forest-free road was made to the drill sites. The first wells were drilled, and direct signs of new kimberlite pipes in the license areas were obtained. At present, the studies and tests of the core material and a complex of laboratory studies are underway.
In 2020, 4.1 mn carats of rough diamonds were recovered at the V. Grib Mining and Processing Division
Ecology: among the best in Russia
On December 16, the results of the ‘Rating of Transparence of Mining and Metallurgical Companies of Russia in the Environmental Responsibility - 2020’ were summed up in Moscow. According to its results, AGD DIAMONDS is among the top ten. The rating was organized by the World Wildlife Fund (WWF) of Russia in co-operation with the National Rating Agency with the support of the European Union, the UN Environment Programme, and the Ministry of Natural Resources and Environment of the Russian Federation.
The basic principles of the rating include the compliance with the IRMA (Initiative for Responsible Mining Assurance), the GRI (Global Reporting Initiative) Sustainability Reporting Guidelines and the EBRD (European Bank for Reconstruction and Development) Sectoral Strategy. The assessment was carried out according to the criteria such as the environmental management and policy, impact on the environment, disclosure and transparency.
The ratings were determined based on the results of a large-scale study of the operating figures of the forty largest mining and metallurgical companies. The Kinross Gold mining corporation was ranked first. The three winners also included Polymetal and Polyus. Again, AGD DIAMONDS confirmed its achievements of the previous years and showed the best results among the diamond mining companies, and it was ranked ninth.
The rating of the mining and metallurgical companies operating in Russia in the environmental responsibility was held for the fifth time. AGD DIAMONDS was the winner of the first rating and always remains among the leaders.
Focus on people
AGD DIAMONDS continues to be among the most socially responsible companies in the Pomorye (coastal area of White Sea and Lake Ladoga). In 2020, the company allocated 5.2 mn roubles for charity traditionally supporting the Rodnaya Storona (native land) competition of social projects in the Mezensky district, the activities of the Geolog (Geologist) centre for children and teenagers, and Luchik (gleam) and Rembuevsky sponsored orphanages. One of the most significant areas of their charitable support was the construction of a new Church of the Nativity of the Blessed Virgin Mary in the city of Mezen. In August 2020, the AGD DIAMONDS delegation took part in its opening. Nikolai Tabashnikov, the Father Superior of the Church of the Nativity of the Blessed Virgin Mary, emphasized that from the first day of preparation for its construction, the top managers of AGD DIAMONDS accepted the offer to co-operate (although the project documentation was not ready yet) and provided great assistance of every kind throughout the construction period and the interior fit-out of the Church. Summing up the results of the year, it should be noted that in this time difficult for the diamond industry, AGD DIAMONDS prolonged the existing company’s collective agreement to keep all the ongoing social guarantees, compensations and benefits for the company’s employees and their families.
Images credit: AGD DIAMONDS
