Russia’s ALROSA confirms diamond reserves, resources under JORC

MOSCOW, Nov 21 (PRIME) -- Russia’s uncut diamond mining giant ALROSA has confirmed its diamond reserves and resources under JORC Code at 967.5 million carats as of January 1, the company said Wednesday.

Diamond reserves account for 630.6 million carats, with proved and probable reserves amounting to 9.393 million carats and 621.162 million carats, respectively.

This is the company’s first reserves audit provided by Micon International Co. The estimate includes ALROSA’s largest deposit, which account for about 70% of its mineral resource base. The audit does not include ALROSA’s share in Angola’s Catoca Mining.

ALROSA generates 30% of the world’s uncut diamond output. In 2011, it mined 34.6 million carats of diamonds - a 1% increase.

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