Russia's AGD Diamonds announced the discovery of a gem-quality diamond weighing 54.27 carats at its mine in the Arkhangelsk region.
This is the first diamond of special size (weighing more than 50 carats) mined at the Vladimir Grib diamond deposit this year.
Earlier, AGD Diamonds reported that its 2024 production guidance remains unchanged from 2023 levels at 4.5 million carats of diamonds. According to the regional government, this year the company plans to continue exploration work for new diamond deposits in the Arkhangelsk region, as well as improve its sales strategy.
AGD Diamonds is the only diamond producer in Russia independent of ALROSA, which accounts for about 10% of all-Russian production. According to its reserves, The Vladimir Grib diamond deposit developed by AGD is the fourth in Russia and the eighth in the world. Reserve estimate was approved in 2010 in the amount of 76 million tons of ore.
The life cycle of the open mine is estimated at more than ten years.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
