ALROSA is currently preparing a feasibility study for the Mir diamond mine restoration project, and an investment decision on it may be made as early as May 2022, FINMARKET reported, citing an interview with the company's CEO Sergei Ivanov on the Almazny Krai TV channel.
The feasibility study will be reviewed by the strategy committee of ALROSA’s supervisory board and then by the supervisory board itself. “We can state that everything should move towards a positive decision,” said Sergei Ivanov.
He also informed that during the exploratory deep-level drilling at the Udachnaya and Mir diamond pipes, additional diamond reserves of 118 million carats were confirmed and the company can put this amount on its balance sheet. Diamond reserves of more than 80 million carats were confirmed at Udachnaya and almost 38 million carats at Mir.
“We have not had great discoveries in recent years, but the increase in reserves that we see allows us to outstrip production levels,” said ALROSA's CEO adding that ALROSA geologists will also test the diamond grade of one of the new pipes at the company’s Aikhal Mining and Processing Division located in the vicinity of the Yubileinaya diamond mine, as well as the diamond grade of one of the promising pipes at the Verkhne-Munskoye diamond field and that the results of these works may become available in 2022.
Vladimir Malakhov, Rough&Polished
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