Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

Today

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

ALROSA reports on the status of suspended Mir mine

18 march 2019
ALROSA described the decision-making concept regarding the development of its currently suspended Mir mine in a press release distributed on Monday. It says that following the analysis of several options for deposit opening and deep level development, ALROSA has worked out a decision-making concept regarding the restoration or full closure of Mir.
The concept requires deep level exploration down to -1,300 metres to confirm the mine's reserves. These activities are scheduled to be completed by early 2022. Budgeted at around RUB 2 billion, this work is included in the Group's RUB 28.7 billion capex programme for 2019.
Based on the results of the exploration works, pilot holes will be drilled to start preparation of deposit opening design documents (within 1 to 2 years). This work is to be completed before 2024.
Simultaneously, the Company will carry out conceptual design activities to ensure water disposal at the mine and choose the best mining technology as well as ventilation and gas safety options.
If it is decided that the restoration of the Mir underground mine is feasible, the construction is estimated to take 6 to 8 years.
In summary, the Mir mine restoration can start no earlier than 2024 and only if the studies yield positive results, and if it is confirmed that construction and mining can be done with the highest level of occupational safety.
ALROSA's decision about further development of this mine will be based solely on safety considerations and economic viability.