The Federal Department on Subsurface Use in the Arkhangelsk Region has recently issued licenses for geologic prospecting and exploration of diamond deposits to OJSC Severalmaz being a subsidiary of AK ALROSA. The licenses cover four plots located in the region, Bclass.ru reported.
According to the company’s statement, it has been granted licenses for 5 years in respect of Otugsky, Svetlinsky, Brusovitsky and Kodinsky areas located in Primorsky, Kholmogorsky and Onezhsky districts correspondingly.
Since 2005 OJSC Severalmaz has been involved in diamond mining operations at diamond deposit named after Lomonosov, being the only diamond asset of the company.
In the second quarter 2012 Severalmaz mulls start of 2nd stage construction of the processing plant at the diamond mine, RIA Novosti reported.
Following the results of 2011 OJSC Severalmaz posted earnings from rough diamond sales at 1.508 billion rubles. Meanwhile, as of 31 December, 2011, the company’s uncovered loss of past years exceeded 1 billion rubles.
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