New Alrosa Diamond Deposit Estimated at $3.5 Billion

Russia’s diamond giant Alrosa discovered a large diamond deposit in the Sakha (Yakutia) republic and estimated the deposit at $3.5 billion, the company revealed Wednesday.

According to the company, this is the biggest reserve they have found in ten years.

The new deposit, Verkhne-Munskoe, consists of three kimberlite pipes and is forecasted to last for 25 years, yielding from 1.2-2 million tons of ore.