UPDATE: Russia’s ALROSA says JORC diamond resources at 1 bln carats

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MOSCOW, Jan 12 (PRIME) -- Resources of Russian uncut diamond mining giant ALROSA amounted to 1.03 billion carats of diamonds as of July 1, 2016, while reserves stood at 653 million carats, as estimated under the JORC code by independent appraiser Micon, ALROSA said in a statement on Thursday.

“The estimation perimeter of ALROSA’s assets remained unchanged in comparison with Micon’s previous report,” the company said.

“Resources of the Verkhne-Munskoye deposit, the Zarya pipe, the Maiskoye kimberlite body and the Botuobinskaya placer were reclassified to reserves, with financial models of ALROSA’s respective divisions updated accordingly,” the company added.

Compared with a January 1, 2015 estimate, ALROSA’s resources fell 4.5% from 1.077 billion carats, while reserves remained almost flat compared with 658 million carats as of the previous estimate. The average diamond content in resources of all fields fell to 1.08 carats per tonne from 1.09 carats, while the content in reserves decreased to 1.3 carat per tonne from 1.34 carat.

The company’s measured and indicated resources of all fields were at 755 million carats with average diamond content of 1.22 carats per tonne, while inferred resources almost reached 275 million carats. Proved reserves of ALROSA’s fields amounted to 185 million carats with an average content of 1.69 carats of diamonds per tonne, and probable reserves stood at 468 million carats with an average content of 1.2 carats per tonne.

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