The period of volatility and gradual adjustment will continue in the immediate future - Vipul Shah

Vipul Shah, an ace businessman and visionary, has been instrumental in establishing the Asian Star Group’s global network. Under his guidance, Asian Star, a company solely into diamond manufacturing, ‘metamorphosed’ into a value added, vertically integrated...

17 october 2016

Young diamantaires aim to take diamond industry forward

It started out as an informal meeting of diamantaires attending the 37th World Diamond Congress in Dubai last May, but quickly took off. The World Federation of Diamond Bourses' (WFDB) Young Diamantaires group held its inaugural meeting in Hong Kong...

10 october 2016

Dorothée Gizenga: ‘Blood diamonds’ are no longer the real problem

Dorothée Gizenga, head of the Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, in her interview to Rough&Polished told about the challenges facing DDI and the programs it is implementing.

03 october 2016

We estimate gold demand for 2016 to be in the range of 750 to 850 tonnes – Somasundaram, MD, WGC-India

Somasundaram PR joined the World Gold Council in January 2013, as Managing Director, India. Based in Mumbai, Som is responsible for leading the World Gold Council's activities across the Indian gold market. A qualified Chartered Accountant, Som has over...

26 september 2016

Actions undertaken by ALROSA are intended to support true diamond manufacturers

Recently, the EPL Alliance and Diamond and Jewelry Manufacturers Guild of the Republic of Sakha (Yakutia) backed ALROSA in the press, welcoming its position in support of Russia’s diamond-cutting businesses in view of the abolition of the 6.5% export...

19 september 2016

Arkhangelskgeoldobycha will start development of Grib diamond pipe in 2013

14 april 2011

Subsidiary of oil company LUKOIL OJSC Arkhangelskgeoldobycha (AGD) plans to recover 58 million carats of diamonds during the first 16 years of development of Grib pipe diamond deposit, Finmarket agency reported citing a statement released by press office of the Government of the Arkhangelsk Region. Within the above period Arkhangelskgeoldobycha will conduct open-pit mining activities which are expected to start at the end of 2013. Total diamond reserves of Grib diamond pipe are estimated at 98.5 million carats.
Grib diamond pipe is located at the south edge of Verkhotina field, which saw geologic exploration works conducted till the end of 2009, in compliance with the license. Exploration was effected in partnership with French Foraco which signed a contract for drilling of large-size wells for adjustment of quality and quantity of diamond reserves.
It was previously expected that AGD will recover first commercial gems at Grib pipe in 2015.
Mining and processing complex to be constructed at diamond pipe will have capacity to process 4.5 million tonnes of ore per year. The life span of the pipe amounts to 25 – 35 years and depends on the method of development.
Vice President of LUKOIL Leonid Fedun announced that previously mineable diamond reserves of the deposit were estimated at $6.5 billion while later the valuation was adjusted to $11 billion.


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