Sarine’s David Block: Diamond Industry at Standstill Until Chinese Demand Returns

David Block is CEO of Israel’s Sarine Technologies and has served in the position since 2012. In this exclusive interview for Rough and Polished, Block gives his opinion on the leading issues affecting today’s diamond trade.

Today

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Amplats sees prospects as a standalone company

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Lyudmila Vysotskaya: Amber is a mystical stone, a living substance

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Polyus sells a gold deposit to ALROSA

01 july 2024

Anabar Diamonds, part of the ALROSA group of companies, acquired the Dyegdekan gold deposit in the Magadan region of Russia from the Krasnoyarsk division of PJSC Polyus.

The explored reserves of the deposit, according to the State Commission for Mineral Reserves, are estimated at approximately 100 tons of gold, including balance reserves of C1+C2 categories at 38 tons, with an average content of 2.2 g/t (not including off-balance reserves). Polyus owned the license for the Dyegdekan deposit from 2005.

Anabar Diamonds plans to begin development of the deposit after updating the feasibility study.

“According to the preliminary plan, the field is planned to be put into operation in 2028. Annual gold production after reaching design capacity in 2030 is estimated at 3.3 tons. The deposit’s mine life is until 2046,” noted the company’s CEO Alexey Okorokov.

Meanwhile, head of ALROSA Pavel Marinychev said that the new acquisition of the deposit by a subsidiary company would be positive for the diamond miner.

“The ALROSA group of companies has accumulated extensive experience in the field of associated gold mining, which we will use and develop for this prokect. The development of the gold deposit will provide an additional synergistic effect for ALROSA’s business and will help increase its financial stability in the long term,” he said.

Theodor Lisovoy, Editor in Chief, Rough&Polished