Karelian Diamond Resources has announced that Finnish authorities have registered the mining rights for the Lahtojoki diamond project in the land registry, paving way for the development of the first such project in the EU.
In mid-2024, the Finnish Land Court ruled in favour of Karelian Diamond in a land dispute with two landowners, after which the Lahtojoki diamond mine boundary will remain unchanged.
After the Finnish National Land Survey had issued the land permit, the Finnish Mining Authority (TUKES) has registered the mining rights for the diamond project and issued a certificate.
The company is now planning to proceed to the next stage of work on the mining concession area.
“Confirmation that the mining concession registration process is progressing post finalisation of the registration of the mining concession at Lahtojoki in the land registry is excellent news for the company and its shareholders,” said Karelian managing director Maureen Jones.
“The registration of mining rights is a critical step for the company and means that the company can plan the next stage of work at the Lahtojoki Diamond Deposit.”
The Lahtojoki diamond deposit, as well as containing high quality colourless gem diamonds, also contains pink diamonds and other coloured diamonds. Such diamonds are highly sought after and can command prices up to 20 times that of normal colourless gem diamonds, the company said.
Theodor Lisovoy, Managing Editor, Rough&Polished
