Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

ALMAR has increased reserves of the Beyenchimee field by almost a third

11 october 2023

The ALMAR - Diamonds of the Arctic company reported its operational results at the Beyenchimee deposit in Yakutia to the State Commission on natural resources.

The diamond field is located near the river of the same name. For the company, it is one of its key projects, the press service of ALMAR reports.

Commercial production at Beyenchimee is not underway yet. ALMAR specialists are focused on geological exploration and other preparatory work. The company, as reported, plans to start production in 2024. The deposit has quite promising reserves.

The company's report indicates significant C1+C2 reserves of alluvial diamonds of industrial categories. They are concentrated in braids, riverbeds and floodplains. The total reserves are estimated at almost 449,030 carats and almost 1.58 million cubic meters of sand. Proven reserves increased by 32% compared to previous calculations.

On average, Beyenchimee contains 0.28 carats of diamonds and 10.9 mg of gold per cubic meter of sand. In addition to this deposit, ALMAR is developing the Khatystakh field. Exploration expenses in the first half of 2023 are estimated at 120.6 million rubles.

ALMAR expects a further increase in proven reserves by the end of 2023. The work is being carried out despite the difficulties that have arisen due to geopolitical tensions. Sanctions affected many Russian industries, including gold and diamond mining. However, businesses are finding ways to adapt to new conditions.

Alex Shishlo for Rough&Polished