ALROSA’s Diamond Resources Down 4%, Plans to Increase Production 5%

Mining and Exploration
16/01/2017 10:39

According to a company press release, independent expert Micon assessed that as of July 1 2016, Russian diamond mining giant and largest producer by volume in the world ALROSA's resources totalled 1.03 billion carats, down 4% from the 1.08 billion carats announced in 2015. Its reserves amounted to 653 million carats, down nearly 1% from the 662 million carats as of January 1 2015 announced in its 2015 annual report. The assessments were carried out in accordance with a code outlined by the Joint Ore Reserves Committee (JORC), the Australasian guidelines for reporting mineral resources and ore reserves. Resources of Verkhne-Munskoe deposit, Zaria pipe, Maiskoye kimberlite body and Botuobinskaya placer were reclassified to reserves, with the financial models of ALROSA’s respective divisions updated accordingly.

Meanwhile, CEO Andrei Zharkov said in an interview to an internal edition of Prime News on Friday last that Alrosa still intend to increase diamond output by 5% in 2017. “The market volume recovered in 2016, so we plan higher production for 2017. Besides, the company keeps its strategic goal to produce about 40 million carats annually in the next few years,” he said.