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RAPAPORT... ALROSA won bids for the rights to use subsurface mineral resources of two diamondiferous license areas in the western region of Yakutia, Russia. The two licensed areas, Piropovy Ruchey and the Zakonturnaya deluvial placer of Udachnaya pipe, are located close to ALROSA’s functioning deposits and will enable the mining giant to extend its resource base, according to the firm. For the license to develop subsurface mineral resources at the Zakonturnaya deluvial placer of the Udachnaya pipe, ALROSA placed a winning bid of $754,350 (RUB 24.88 million). This pipe is located at the flank of the Udachnaya pipe and the Russian State Register of Mineral Reserves recorded a fully explored rough diamond reserve of about 109,500 carats based upon a January 2011 resource study. ALROSA submitted a winning bid of $3.17 million (RUB 104.68 million) for the right to use subsurface mineral resources at the Piropovy Ruchey deposit. This deposit is estimated to contain fully explored reserves of 595,500 carats in addition to evaluated reserves of 279,500 carats. The government also estimated uneconomical reserves (referred to as off balance) of about 113,500 carats.
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