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Alrosa to Begin Production on $1B Asset

Jul 22, 2018 4:31 AM   By Rapaport News
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RAPAPORT... Alrosa will begin production next year on its new Zarya deposit, estimated to contain over $1 billion in diamond reserves.

The mine contains approximately 3.5 million carats, and will replace production from the miner’s Komsomolskaya pipe, which is nearing end of mine life.

“The open-pit mine construction is planned to be completed in 2019,” Timofey Baishev, deputy head of production of the Komsomolsky mine, said Friday. “[It] is expected to reach its design capacity of 1,250 million tons of ore annually in 2021.”

Alrosa’s Aikhal Mining and Processing Division will operate the mine, at a cost of about $189.9 million (RUB 12 billion).

Image: Komsomolsky mine; Credit: Alrosa
Tags: Aikhal Mining and Processing Division, Alrosa, Komsomolskaya pipe, Rapaport News, Timofey Baishev, Zarya, Zarya mine
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