"ALROSA" Looking For Diamonds in the Republic of Karelia
"ALROSA", the Russian monopoly in quarrying diamonds, together with one of the world largest company Rio Tinto are holding negotiations with the Government of the Republic of Karelia to establish a joint stock company for diamond prospecting in the region in 2001.
The necessary documents are supposed to be completed by the first half of 2001. The "ALROSA" share will make 51%, the Rio Tinto share - 24%, the Committee of state property of the Republic of Karelia share - 25%.
"ALROSA" is planning to contribute about a million dollars to the prospecting work in 2001. According to the assessment of the Committee on natural resources of the Republic of Karelia, potential resources of diamond deposits of the Republic of Karelia are estimated by the sum ranging from $650 million till a milliard dollars.
"ALROS" makes about 20% of the world diamond quarrying. In 2000 "ALROSA" mined diamonds for $1,5 million.
Last updated: 21 May 2001
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