ALROSA invested 60% of capital in diamond mining development

In 2016, ALROSA’s investments in underground mines and other core production facilities amounted to RUB 16.5 billion or 60 percent of the company’s total capital investments. Over RUB 7 billion was allocated to technical upgrade and replacement of worn-out equipment, RUB 2.7 billion was invested in ancillary facilities. This was announced during the Annual General Meeting of Shareholders.

The company invested almost RUB 5.5 billion – into the construction of Udachny underground mine and made efforts to support existing facilities at Mir, Internatsionalny, and Aikhal underground mines.

The company started developing a new primary diamond deposit – Zarya. It is one of ALROSA’s largest investment projects and its development guarantees loading of existing capacities of Aikhal Mining and Processing Division for at least two decades ahead. Mir underground mine reached its design capacity of 1 million tons of ore per year, its proved reserves will be sufficient until 2057.

ALROSA is still actively working to establish a diamond mining facility on the deposit of Verkhne-Munskoe kimberlite field. In accordance with the Investment Agreement signed with the Ministry for the Development of the Russian Far East in 2016, the total investment in the development of the deposit will be RUB 63 billion. According to Sergey Ivanov, government support for the project emphasizes its utmost importance and potential for the development of the Russian Far East.