Russia is running out of diamonds - expert

The depletion of diamond-bearing sands in the Arctic will lead to the fact that by 2030 the production of alluvial diamonds will be reduced by at least three times and it is necessary to reorient the search for deposits of primary diamonds. In Yakutia there are signs of several similar deposits with significant reserves of large diamonds, said academician Nikolai Pokhilenko, Deputy Chairman of the Siberian Branch of the Russian Academy of Sciences.
"Almazy Anabara, with which I am well acquainted, is gradually beginning to switch to placer gold and platinum due to the depletion of diamond-bearing sands. According to my forecast, by 2030, production of alluvial diamonds in the Arctic zone of the Russian Federation will be reduced by at least three times," Pokhilenko said, according to finanz.ru.
Scientists suggest reorienting the search for primary diamond deposits. In their opinion, the reduced demand for gem-quality stones will sooner or later bounce back, since it is associated exclusively with the economic crisis caused by the COVID-19 pandemic.
"In the Arctic zone of Yakutia there are signs of older middle Paleozoic pipes with an age of about 370 million years, similar to Udachny and Mir, and containing significant amounts of large expensive diamonds," said Pokhilenko.
The Mir kimberlite pipe is one of the world's largest diamond deposits located in the Republic of Sakha (Yakutia) in the valley of the Irelakh River, 850 km West of Yakutsk. Production stopped here in 2017 due to an accident. Udachny is the largest underground mine of ALROSA located in the city of Udachny in the western part of Yakutia.

Alex Shishlo for Rough&Polished