Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

ALROSA Wins Exploration License for Molodo Deposit

Dec 28, 2014 2:52 AM   By Ronen Shnidman
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... ALROSA's subsidiary Nizhne-Lenskoye won a Russian government tender on Friday for a license to explore and mine a greenfield diamond deposit located in Yakutia.

Nizhne-Lenskoye bid $1 million (RUB 51.776 million) for the rights to the Molodo river placer deposit.

The riverbed deposit has an estimated 905,000 carats of economically recoverable rough diamonds. The site contains another 189,000 carats in reserve that are not economically viable at current prices. ALROSA stated that the deposit has a forecast diamond resource of 712,600 carats, based upon accepted accounting standards.

ALROSA added that acquiring the rights to the Molodo deposit  was in line with the group's development strategy and a goal of expanding its resource base in Yakutia. ALROSA must still receive final approval of the tender results from Russia's federal government.
Tags: Alrosa, Molodo, Nizhne-Lenskoye, Ronen Shnidman, Russia, tender
Similar Articles
Jonathan Kendall, De BeersDe Beers Exec Jonathan Kendall to Retire
Nov 15, 2020
Jonathan Kendall, a key executive in De Beers’ downstream activities, will retire...
Dominion Nears Deal to Restart Ekati
Petra Launches Probe into Violence Claims
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us