Pink Diamond Boost for Europe's First Diamond Mine
December 01, 21
(IDEX Online) - The discovery of pink diamonds could prove to be a huge financial boost, says the company exploring a site in Finland.
Karelian Diamond Resources says pinks are present at the Lahtojoki deposit, which it aims to develop as Europe's first diamond mine outside Russia.
"Pink diamonds are highly sought after and are extremely scarce, typically commanding a price up to 20 times that of normal colourless diamonds," said the Ireland-based company in year-end results announced yesterday.
"The presence of pink diamonds in the Lahtojoki diamond deposit could, therefore, substantially increase the potential profitability of any future mining operation."
Karelian has previously disclosed the recovery of a green diamond in a till sample at Lahtojoki, on Finland's eastern coast, which it described as "very rare and significant".
Karelian said in relation to the Lahtojoki diamond deposit, PEA in 2017, based on a non-JORC resource of 2.25 million carats, estimated the deposit contained a value of $225m, with an NPV8 of $39m, with a nine-year mine life.
Pic courtesy Karelian