The Verkhne-Munskoye Diamond Field was discovered in 2007 at the Oleneksk Settlement in the Republic of Sakha (Yakutia), and it is ALROSA’s largest discovery in a decade.

The field incorporates several kimberlite pipes set close to one another and is located 130 kilometers away from the Udachny Mining and Processing Combine, an ALROSA unit.

The field is located in an area with favorable mining and geological conditions. Given an extraction rate of 1.2 to 2 million tonnes of ore per year, development of this field will last no fewer than 25 years.

As of 2007, known reserves at the Verkhne-Munskoye Field are estimated to be the equivalent of $3.5 million, and there are considerable supplementary ore reserves on account of additional exploration of deeper horizons.

The Verkhne-Munskoye Diamond Field was discovered using ALROSA’s own resources. The certificate of discovery gives the company the opportunity to obtain diamond extraction rights on a non-competitive basis.

ALROSA plans to bring production at the Verkhne-Munskoye Diamond Field to full design capacity in 2014. A new unit, which will operate according to a rotating scheme and will be under the control and management of the Uchalinsky mining and processing combine, will be built at the field.