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Today

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The cost of exploration in Russia is the most expensive in the world - AGD Diamonds

14 may 2019

Talking about the cost of diamond exploration in Russia and in the world, Viktor Ustinov, Advisor to General Director, AGD Diamonds, said that, according to the estimates from open source data, in 2001-2016 the cost of exploration of one carat in Russia was the highest in the world and amounted to $80-85 per carat, while the average realised price was about $110 per carat. 

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Image credit: AGD Diamonds


“Let me give you some figures that eloquently demonstrate the proportions of the exploration costs of 1 carat since 2001: in Russia - 75%, in Botswana - 10%, in Canada - 9.5%, in Angola - about 1%,” said Viktor Ustinov.
The similar figures of the main diamond-mining countries for the period under review are much lower than those in Russia. In Botswana, for example, exploration costs are $17–18 per carat, with an average released price of $184 per carat; in Canada, the cost of prospecting is $10–12/ct, while the selling price per carat is $112; in Angola - $15 per carat (excluding the Luaxe deposit) at an average released price of $ 121/ct.
AGD Diamonds develops the Grib diamond deposit in the Arkhangelsk Province, Russia.


Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg