Alrosa to Increase Reserves by 50.4M Carats This Year

Mining and Exploration

Russian diamond miner ALROSA plans to increase its reserves by 50.4 million carats this year, ITS head geologist, Konstantin Garanin, said in an interview for the corporate publication Vestnik Alrosa, AS REPORTED BY Interfax. The growth will come about by exploration of the Zarya field and follow up exploration at the Aikhal and Verkhne-Munsoye fields, he said.
Overall financing for geological exploration by the ALROSA group will total close to $100 million in 2016.

Separately, ALROSA reported that Yelena Gangalo, has been appointed vice president for economy at Alrosa. She was previously a deputy Russian agriculture minister. She will take on the responsibilities held by Ilya Ryaschin, a company first vice president whose contract expired at the beginning of June.