According to the company’s Annual Report for 2011, in the past year exploration work was carried out at 65 sites in the Republic of Sakha (Yakutia), as well as on a small level in the Arkhangelsk Region and the Republic of Karelia. Small-to-medium scale regional exploration works aimed at identifying new kimberlite fields were carried out in the Muno-Tyungski, Morkokinski, Ygyattinski, Lenski, and Lower-Olenek diamondiferous areas.
More detailed exploration aimed at identifying kimberlite bodies was carried out in the areas developed by ALROSA’s mining-and-processing integrated works, the Daldyn-Alakit, Sredne- Markhinski, Malo-Botuobinski, Anabarski, and Tsentralno-Yakutski diamondiferous areas. The company obtained licenses for geological exploration in the Muogdanski and Verkhne-Chukukski, as well as for exploration and mining on the primary deposits located in the Verkhne-Munskoye and Mayskoye Diamond Fields and on the Dalnyaya Diamond Pipe and also for the placer deposits of Ruchey Gusiny and Ebelyakh River.
ALROSA spent RUB 4,121.3 million from its own funds to finance exploration works, which is up 44.8% compared with the previous year. In 2011, the miner carried out a large volume of exploration, prospecting and evaluation operations. As a result, ALROSA attained the main goal set for its exploration unit increasing the company’s total C1 and C2 reserves to 29.7 million carats and its P1predicted resources to 46.9 million carats.
In order to solve the problem of long-term sustainable development, ALROSA approved the Program for Major Exploration Works to be carried out until 2018. Within this program, it is supposed to conduct exploration in the Republic of Sakha (Yakutia) and the Arkhangelsk Region with a view to add over 430 million carats of diamonds to the reserves portfolio of ALROSA Group. This will not only make up for the outgoing amounts in the company’s mineral resources, but also give an additional increase of more than 100 million carats to its overall reserves.
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