Alrosa’s Executive Committee review, on April 17th, of its 2014 exploration performance,  concluded that “all the targets (were) successfully achieved”.

With a budget in excess of RUB 6 billion,  the company and its subsidiaries conducted exploration in the Republic of Sakha (Yakutia), Arkhangelsk Region and Africa in 2014. About 97% of the total budget was allocated to Yakutia.

“As a result, the Russian State Reserves Committee approved the increase of the company’s C1+C2 diamond reserves by 25.6 million carats, and inferred (P1+P3) resources by 53.57 million carats, delivered through new discoveries and on-mine-site exploration in 2014,”
Alrosa announced in a press release.

The company  noted that the  “exploration of the Mayskaya and Zarya pipes, deep horizons of the International and Aikhal pipes is over along with the Piropovy Ruchey placer deposit”.

Alrosa group company Nizhne-Lenskoye also completed exploration at the Bolshaya Kuonamka River placer deposit to have its reserves approved by the Russian State Reserves Committee; while Alrosa’s subsidiary Severalmaz, operating in the Arkhangelsk region, finished exploration at the Pionerskaya pipe to deliver the project’s feasibility study.

“As at 1 July 2013, ALROSA Group’s JORC reserves were estimated at 608 million carats, the company’s JORC resource base totaling 973 million carats,” the company said.