AGD Diamonds developing the Grib Diamond Field in the Arkhangelsk Province said it is exceeding its output target for 2022 as 1.1 million carats of diamonds have already been mined in the first quarter, while the planned production for the whole year is 4 million carats, the Delovoy Peterburg reported.
According to the publication, the company's CEO Gennady Piven while meeting with Alexander Tsybulsky, Governor of the Arkhangelsk Province said that diamond prices stabilized and even went up exceeding the January levels and therefore the company is implementing all its plans and upgrading production facilities.
In its sales policy, AGD Diamonds has reoriented itself to new markets: mainly China, the UAE and neighboring Armenia and Kyrgyzstan.
The Arkhangelsk Province is one of the two regions of Russia where large diamond deposits are located, Delovoy Peterburg said. These are the Lomonosov Diamond Field, which is being developed by Severalmaz (a subsidiary of ALROSA), and the Grib Diamond Field where AGD Diamonds operates. These two deposits, like all other known kimberlite pipes in the area (there are about 70 of them in total), are located in the Arctic territories of the Arkhangelsk Province, within the Arkhangelsk Diamond Province.
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