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ALROSA's Reserves Increase in 2014
Apr 19, 2015 7:19 AM
By Deena Taylor
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RAPAPORT... ALROSA reported that its diamond reserves increased by 25.6 million carats in 2014. The company's inferred resources rose by 53.57 million carats, based on new discoveries and mine-site exploration in 2014. The increase in reserves was approved by Russia's State Reserves Committee.
In 2014, ALROSA and its subsidiaries explored in the Republic of Sakha (Yakutia), the Arkhangelsk Region and in Africa. The company's 2014 exploration budget exceeded $116.6 million (RUB 6 billion), with about 97 percent of the total allocated to exploration in Yakutia.
As of July 1 2013, ALROSA's reserves under Joint Ore Reserves Committee (JORC) standards stood at 608 million carats, with the company’s JORC resource base totaling 973 million carats.
The company also reported that it completed exploration of the Mayskaya and Zarya pipes, deep horizons of the International and Aikhal pipes, and the Piropovy Ruchey placer deposit.
Nizhne-Lenskoye, which forms part of the ALROSA group, finished exploring at the Bolshaya Kuonamka River placer deposit in order to have its reserves approved by the Russian State Reserves Committee. ALROSA’s subsidiary operating in the Arkhangelsk region, Severalmaz, also completed exploration at the Pionerskaya pipe and will deliver the project’s feasibility study in the near future.
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Tags:
Alrosa, Deena Taylor, diamonds, Yakutia
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