60% of ALROSA's Investments Used For Mining Development
July 01, 17
(IDEX Online) – In 2016, ALROSA's investments in underground mines and other core production facilities amounted to RUB 16.5 billion ($2.8 billion) or 60 percent of the company's total capital investments.
Over RUB 7 billion ($1.2 billion)was allocated to technical upgrade and replacement of worn-out equipment, the mining firm said.
The company invested a substantial amount - almost RUB 5.5 billion ($930 million) - into the construction of the Udachny underground mine. Ongoing efforts were also taken to support existing facilities at the Mir, Internatsionalny, and Aikhal underground mines, the company said.
The company has 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."
The Mir underground mine reached its design capacity of 1 million tons of ore per year, and its proven reserves will be sufficient until 2057.
ALROSA is still actively working to establish a diamond mining facility in the Verkhne-Munskoe kimberlite field. In accordance with the Investment Agreement signed with the Ministry for the Development of the Russian Far East in 2016. According to Ivanov, government support for the project emphasizes its utmost importance and potential for the development of the Russian Far East.