OAO Almazy Anabara, a subsidiary of ALROSA, won the auction launched by the Ministry of Property and Land Relations of the Republic of Sakha (Yakutia), which put a 51-percent stake in OAO Nizhne-Lenskoye on the block this Saturday. This was announced in a press release issued by ALROSA and seen by Rough&Polished.
The bidding for the shareholding closed at RUB 3.67 billion.
Nizhne-Lenskoye is mining alluvial diamonds in the immediate vicinity of the operations run by Almazy Anabara. The company is annually producing about 2 million carats of rough, while its diamond stocks are estimated at 26.4 million carats. The existing and expected mineral resources of Nizhne-Lenskoye are sufficient to maintain diamond mining for 17 years.
"One of the strategic tasks of ALROSA is to build up its mineral reserves. The acquisition of Nizhne-Lenskoye will give us additional production of 2 million carats of high-quality diamonds a year," Fyodor Andreev, President of ALROSA, said.
ALROSA is the world's largest producer of diamonds in terms of volume. In 2011, the company produced 34.6 million carats, while ALROSA Group sold $ 4.454 billion worth of diamond goods.
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