Alrosa starts construction of big new diamond mine

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Alrosa starts construction of big new diamond mine
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Russia's Alrosa, the world's biggest diamond producing company, has started construction of a giant new mine to replace one closed by flooding that killed eight people in 2017, regional authorities said. The website of the Yakutia region in Russia's far east, where the mine is located, quoted Alrosa general director Pavel Marinychev as saying the project would require estimated investment of 121.5-billion roubles ($1.26-billion), with production to start in 2032.

Russia's Alrosa, the world's biggest diamond producing company, has started construction of a giant new mine to replace one closed by flooding that killed eight people in 2017, regional authorities said.

The Mir mine accounted for about 9% of Alrosa's annual diamond output before the shutdown. The new project at the site will be called Mir-Gluboky and will yield roughly the same output as the old one, Marinychev said.

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