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The Replica of the Great Imperial Crown of the Russian Empire is a masterpiece of Russian gem cutters and evidence that they are among the best artisans in the world
maxim_shkadov_x.jpgIn early September, Interfax hosted a press conference with the participation of Maxim Shkadov, CEO of Russia's largest diamond manufacturer Kristall on the further fate of the Replica of the Great Imperial Crown made by Smolensk gem cutters. Maxim Shkadov told the audience how his company had come over the idea to recreate the Crown of the Russian Empire and discussed its further fate, as well as answered questions from Rough & Polished regarding the state of the diamond market and its prospects.

Ari Epstein, CEO of AWDC: Diamond pipeline to unclog and demand to pick up in 2-3 months
ari_epstein_xn.jpgIn early September, ALROSA hosted a meeting on New Development Drivers of Global Diamond Business in the framework of the Asia Pacific Eastern Economic Forum meeting in Vladivostok. The panel session looked at the current state and future prospects of the diamond industry. Leading diamond and jewelry industry figures took part in a debate on the challenges facing the business on September 3, including Ari Epstein, CEO of Antwerp World Diamond Centre (AWDC), who was interviewed by Rough & Polished on this occasion. Epstein shares his views on demand recovery in the diamond market, competition with India and the establishment of a diamond bourse in Vladivostok.

Moscow to host the Third International Economic Jewelry Forum
galina_ananyina_x.jpgOn October 2, 2015, Moscow will host the third edition of the International Economic Jewelry Forum to be held at the Congress Centre of the Chamber of Commerce and Industry on Ilyinka Street under the headline "New Realities, New Challenges, New Strategy in a Changing Global Market" with the support of Russia’s Finance Ministry, Gokhran, Assay Chamber, ALROSA, Russian Jewellery Trade Club and RESTEC JUNWEX media holding. In the run-up to the Forum, Galina Ananyina, President of the Foundation for Development of Jewelry Art in Russia and Chairman of the Organizing Committee of the Third International Economic Jewelry Forum answered the questions from Rough & Polished.

Young customers consider diamonds as preferred investment
suraj_shantakumar_x.jpgAfter graduating in Business Management (Finance) from California Polytechnic State University, Suraj Shantakumar returned to India to focus on managing the family’s many businesses. But being most passionate about Kirtilal Kalidas Jewellers Pvt Ltd (a jewellery chain with an unblemished reputation with over 74 years in retailing and exporting of fine diamond jewellery), Suraj concentrated on Kirtilals’ showrooms spread across South India. Here, he talks to Rough&Polished about the current Indian domestic market and the changes that he has seen in the demand pattern across the country.


ALROSA extracts another king-size diamond, this time weighing 103 carats
In September, ALROSA recovered a large diamond of 102.85 carats from Jubilee kimberlite pipe. The diamond was extracted by the company’s business unit Aikhal Mining and Processing Division (MPD) at the processing plant No.14.

Antwerp Diamond Night in Moscow to be held in Dec
The Antwerp World Diamond Centre (AWDC) and the Ambassador of Belgium to the Russian Federation, H.E. Alex Van Meeuwen, are inviting diamond companies to an exclusive meet and greet in the presence of the Governor of Antwerp, Mrs. Cathy Berx and the President of ALROSA, Mr. Andrey Zharkov at the residence of the Belgian Ambassador in Moscow on Wednesday 9 December 2015 at 7 pm.

Botswana diamond output continues on downward trajectory
Statics Botswana said the country’s output fell by 5.4 percent in the second quarter of the year compared with a 1.5 percent drop, a year earlier.

Diamond Deposits in Yakutia


Reserves and resources Allocation

The major part of the diamond reserves (about 80%) and almost half of the world’s proved diamond resources are located on the territory of the Republic of Sakha (Yakutia) in Russia. Despite the fact that the greater part of deposits lies in the extreme environment of the Far North and is characterized by complicated mining and operating conditions, the diamond grade of ores contained in Yakutia’s kimberlite pipes is normally higher while their quality is comparable with that of other deposits in the world, which makes their development economically efficient.

All the deposits located in the Republic of Sakha (Yakutia) belong to the Yakutsk diamond-bearing province with the Malo-Botuobinsky, Daldyno-Alakitsky, Anabarsky, Sredne-Markhinsky, Prilensky, Muno-Tungsky, Nizhne-Oleneksky and Morkokinsky diamond-bearing districts being the major ones.

Almost all the Yakutia diamond reserves (93.1%) are concentrated in the kimberlite pipes, and the alluvial diamonds make 6.9% of the approved reserves, with the inferred resources equal to 65% of the total inferred resources registered in the Republic. The diamond grade of the ores mined in the Republic (kimberlite pipes) is normally higher than in the deposits abroad, although by their quality the local diamonds are comparable to those mined at many similar mines accross the world.

As of January 1, 2010 the State Mineral Reserves Register of the Republic of Sakha (Yakutia) registered 47 deposits, including 17 kimberlites, 30 alluvials, with the total reserves over 1.0 billion carats in Categories А+В+С1 and С2.

The proved balance reserves life in the Republic is 25-30 years at the current mining level and is defined as satisfactory (Tables 1, 2).

Table 1

Major Diamond Deposits in the Republic of Sakha (Yakutia)

The table was compiled by the author based on the following data:
1. Government Report “On the State and Utilization of
mineral-Raw Material resources in the Russian Federation in 2010.” “Almazy. IATs “Mineral”, 2011, pp. 273-282.
2. Presentation for investors – Results of 2011. IR Press-Release of OAO ALROSA. May 17, 2012.

Table 2

The state of diamond reserves in the Republic of Sakha (Yakutia) as of 01.01.2010, %

The table was made by the author based on the data of the Programme “The Social and Economic Development of the Republic of sakha (Yakutia) up to 2025 and the Guidelines up to 2030”.

The development of the rough diamond basis is among the leading lines of activities of the Yakutia geological industry. In future, the diamond geological exploration will focus on localizing, exploration, evaluation and prospecting of potential diamond-bearing areas in the Yakutsk diamondiferous province and conversion of the inferred diamond resources into the commercial category reserves. increase in the diamond reserves begins to show on the proved kimberlite and alluvial deposits, those under exploration and deposits planned for prospecting, and in future, it should compensate for the utilized reserves.

At present, the real prospects in localizing commercial diamond deposits are connected with the Sredne-Markhinsky and Muno-Tungsky diamond-bearing areas, where new kimberlite bodies rich in diamonds can be discovered, as well as buried high-quality diamond placer deposits. Along with the elaboration of discovered deposits, it is expected to intensify the geological and geophysical exploration and the integrated studies are to be carried out along the fault zone containing ores.

It is also planned to increase the diamond exploration works minimum by 3.5% per year of the value of the diamonds mined in the Republic in order to replenish the utilized reserves and discover new promising kimberlite and alluvial deposits. This will allow provide the diamond mining industry with a dependable raw material base and increase the reserves for next 20 to 25 years.

Yuri Danilov, Ph. D., Director of the Department of Regional Subsoil Management Economics, Institute for Regional Economics of the North at Ammosov North-Eastern Federal University


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