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41-824: Udachnaya was discovered on 15 June 1955, just two days after the discovery of the diamond pipe Mir by Soviet geologist Vladimir Shchukin and his team. It is about 640 metres (2,100 ft) deep, making it the third deepest open-pit mine in the world (after Bingham Canyon Mine and Chuquicamata ). The nearby settlement of Udachny is named for the deposit. As of 2010, Udachnaya pipe is controlled by Russian diamond company Alrosa , which planned to halt open-pit mining in favor of underground mining in 2010. The mine has estimated reserves of 225.8 million carats (45.16 t) of diamonds and an annual production capacity of 10.4 million carats (2.08 t). Mir Mine The Mir mine ( Russian : Ми́р , IPA: [ˈmʲir] ; lit.   ' Peace ' ), also called

82-402: A 28.65 carat pink diamond . The largest pink diamond previously mined by Alrosa weighed 3.86 carats, one of a total of only three others that the company has mined of over two carats each during the past eight years. The gem is reported to be of jewelry quality, measuring 22.47 x 15.69 x 10.9 millimetres, with a saturated pink tone and practically no defects, according to Alrosa. The pink diamond

123-485: A mine life estimate of 27 years, based on a drilling exploration program to a depth of 1,220 m (4,000 ft). Production ceased in 2001, and the Mir mine closed in 2004. The mine was recommissioned in 2009, and is expected to remain operational for 50 more years. The underground Mir mine flooded again in 2017, trapping over 140 miners, all but eight of whom were rescued. Alrosa Alrosa ( Russian : АЛРОСА )

164-411: A relatively high fraction (20%) were of gem quality. The upper layers of the mine (down to 340 m (1,120 ft)) had very high diamond contents of four carats (0.80 g) per tonne of ore, with a relatively high ratio of gems to industrial stones. The yield decreased to about 2 carats (0.40 g) per tonne and the production rate slowed to 2,000,000 carats (400 kg; 880 lb) per year near

205-642: A subsidiary of Tiffany & Co. According to the terms of the three-year trade agreement Tiffany & Co. can annually purchase rough diamonds worth at least 60 million U.S. dollars. ALROSA actively supports Russian government bodies in their efforts to achieve the goals and implement the requirements of the Kimberley Process by various means, including taking a strong and principled position to not supply rough diamonds to legal entities and individual business people if they: Document trail showed that Alrosa's Luxembourg-registered subsidiary Alrosa Finance

246-709: Is a Russian group of diamond mining companies that specialize in exploration, mining, manufacture, and sale of diamonds. The company leads the world in diamond mining by volume. Mining takes place in Western Yakutia , the Arkhangelsk region , and Africa . Alrosa is Russia's leading diamond mining and distribution company, accounting for 95% of Russian diamond production and 27% of global diamond extraction. The company's headquarters are located in Mirny ( Sakha Republic ) and Moscow . The history of Alrosa dates back to 1954, when

287-672: Is a business unit of ALROSA located in Western Yakutia. The division develops the Udachnaya and Zarnitsa kimberlite pipes, Dellyuvialnaya and Ruchey Piropovy placer deposits. Its share in ALROSA Group’s production totaled 11% in 2016. Diamond output at the Udachny Mining and Processing Division (MPD) in 2016 amounted to 3.8 million carats. The Nyurba Mining and Processing Division (MPD) The Nyurba Mining and Processing Division (MPD)

328-634: Is critical to the Yakutia economy. On 28 October 2013, the company carried out the IPO . The Russian government and the Republic of Sakha (Yakutia) sold a combined 14% stake (in equal shares), while Alrosa offered about 2% in treasury stock . U.S. investors were the biggest buyers of the shares, purchasing up to 60% of the stake, 24% got European investors, Russian investors accounted for about 14%. Investment funds Oppenheimer Funds Inc. and Lazard Ltd. took part in

369-617: Is developing the following deposits: Mir (temporarily shut down) and International kimberlite pipes, Vodorazdelnye Galechniki, Irelyakh and Gornoye placer deposits, and Tailings of Processing Plant No. 5 (technogenic deposit). The Aykhal Mining and Processing Division (MPD) The Aykhal Mining and Processing Division (MPD) was established in 1986 and mines diamonds at the following deposits: Jubilee and Komsomolsky open-pits, Aykhal underground mine. Its share in ALROSA Group’s production exceeded 30% in 2017. Udachny Mining and Processing Division (MPD) Udachny Mining and Processing Division (MPD)

410-709: Is one of the most high-performance industrial companies in the Republic of Angola. It is the first mining company in Angolan history that started the large-scale mining of the Catoca kimberlite pipe (the Luanda Sul Province), one of the largest diamond primary deposits – the fourth largest in the world. Open Joint Stock Company ALROSA (Russia) owns 32.8% of the Catoca Ltd. shares. Public Joint Stock Company ALROSA-Nyurba The company

451-666: Is one of the youngest enterprises of ALROSA. It operates at the Nakyn ore field. It develops the following deposits: Nyurbinsky and Botuobinsky open-pits, and two homonymous alluvial placers. Its share in ALROSA Group's production totaled 19% in 2017. Diamond output at the Nyurba Mining and Processing Division (MPD) in 2017 totaled 7.7 million carats. OJSC Almazy Anabara The company was established in January 1998 as LLC Almazy Anabara for

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492-521: Is the first and only specialized rating in Russia of companies whose geography of activities affects the Arctic zone of Russia. According to the results of the research conducted by PwC in 2017, ALROSA is an absolute leader among diamond mining companies in terms of investments in social programs directing to social spending on average 2.8% of its revenue (while the respective average level for other participants of

533-599: The Luanda Sul Province on the basis of the Catoca kimberlite pipe takes place through Sociedade Mineira de Catoca (Catoca Ltd.), the largest diamond producer in Central Africa , 32,8% shares owned by Alrosa. Mirny Mining and Processing Division (MPD) Mirny Mining and Processing Division (MPD) was founded in 1957 and is the oldest division of ALROSA. Its share in ALROSA Group’s production totaled 18% in 2017. Mirny MPD

574-626: The Mirny mine , is an open pit diamond mine located in Mirny , Sakha Republic , in the Siberian region of eastern Russia . The mine is more than 525 meters (1,722 ft) deep (4th in the world), has a diameter of 1,200 m (3,900 ft), and is one of the largest excavated holes in the world. Open-pit mining began in 1957 and was discontinued in 2001. Since 2009, it has been active as an underground diamond mine. The diamond-bearing deposits were discovered on June 13, 1955, by Soviet geologists, Yuri Khabardin , Ekaterina Elagina, and Viktor Avdeenko during

615-643: The Russian submarine B-871 , named "Alrosa" since 2004. This serves the goals of both upholding the Russian Navy and providing Yakutian youths a military alternative to crime, drugs and alcoholism. In 2008, Alrosa acquired a license to mine, process and store uranium . In 2009, it partnered with Rosatom , the nuclear state company of Russia. In 2011, Alrosa was reorganized as an open joint-stock company with free float of Alrosa's shares on financial markets . In July 2007, Verkhne-Munskoye diamond field in Yakutia

656-504: The Soviet Union . The development of the mine started in 1957, in extremely harsh climate conditions. Seven months of winter per year froze the ground, making it hard to mine. During the brief summer months, the ground turned to slush. Buildings had to be raised on piles, so that they would not sink from their warmth melting the permafrost . The main processing plant had to be built on better ground, found 20 km (12 mi) away from

697-571: The Arctic Circle. In 2021, the company's revenue in Russia amounted to 262 billion rubles. In 2022, in response to Russia's invasion of Ukraine , several countries moved to implement economic sanctions against several Russian-based companies, individuals and financial institutions. On February 24, 2022, US President Joe Biden announced sanctions against Alrosa. However, the diamond-cutting companies of Antwerp , Belgium, keep importing from Alrosa although at lower volume. On January 3, 2024,

738-625: The Djomolungma and Chimyan was discovered, and in 1969, the International kimberlite pipe. In 1963, the first sales contracts between the USSR and De Beers group were signed. In 2009 this cooperation was brought to an end as contrary to European Union competition laws in compliance with a decision of the European Commission . Now Alrosa independently distributes its rough diamond production on

779-542: The EU's earlier prohibition, effective from January 1, 2024 on the import, purchase, or transfer of Russian non-industrial natural and synthetic diamonds and diamond jewelry. As of 2017 ALROSA was the sector's largest public diamond mining company. Its public float is 34%, with 33% owned by the Russian Federation. The Company’s market capitalization was RUB 553 billion in 2017 (US$ 9.6 billion). On 13 March 2017, Sergey Ivanov

820-519: The European Union imposed sanctions on Alrosa, and its CEO, Pavel Marinychev, as part of its "unwavering commitment" to Ukraine in the conflict against Russia. Alrosa, responsible for approximately 90% of Russia's diamond production, saw its assets in Europe frozen, with EU citizens and companies prohibited from providing funds to the company. Pavel Marinychev, faced a travel ban in Europe. This move followed

861-627: The IPO and bought over 2% of the stake. Alrosa raised $ 1.3 billion in share sales. In 2016, Alrosa was ranked as being among the 12th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 2017, ALROSA implemented over 500 social and charitable initiatives. Over 70% of all initiatives were implemented in Yakutia – ALROSA's key region where the company conducts its core business. These initiatives are partially implemented through nonprofit organization "Target Fund for Future Generations of

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902-614: The Republic of Sakha (Yakutia)", in which the company has invested over 4.5 bln rubles for the whole period of cooperation since 2011. That year, ALROSA was ranked among the top three in the environmental responsibility rating of the Russian mining and smelting companies. The rating was developed by the World Wildlife Fund, United Nations Development Programme, Global Environment Facility, and the Ministry of Natural Resources and Environment of

943-491: The Russian Federation. In June 2017, Memorandum of Cooperation between PJSC ALROSA and Gem & Jewelry Export Promotion Council (GJEPC) was signed in the scope of India-Russia Summit with the participation of the Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. In June 2017, ALROSA entered Top-5 of companies with sustainable development, according to "Polar Index". “Polar Index”

984-699: The Soviet and later Russia friendly expert who cuts and polishes the gems is Lev Leviev of Africa Israel Investments (AFI) . Alrosa closed joint-stock company was set up according to Presidential Decree №158C of the President of Russia " On the Establishment of the Almazy Rossii-Sakha Joint Stock Company " signed on 19 February 1992, based on NPO Yakutalmaz , a former USSR state-owned diamond mining company. In 1997, Alrosa started sponsoring

1025-583: The Yakutalmaz group of companies was established with headquarters in Mirny . The first commercial-grade diamonds were recovered the same year. Two years later, the Soviet Union sold the first shipment of diamonds on the world market. For the most part during the Soviet period, the diamond mining industry developed on the basis of the Mir open-pit mine and adjacent alluvial deposits. In those years its main open-pit mines, processing plants and related energy generating facilities were put into operation. In 1960,

1066-421: The afternoon of 17 January 1991 to obtain very large loans from Persian Gulf states to prevent the collapse of the Soviet banking system. However, Gerashenko could not obtain loans but Yevgeny Primakov and Thomas Alibegov did obtain loans but not enough so schemes involving diamond trades would be pursued to obtain additional credits. Using uncut diamonds for loans was not as profitable as using cut gems and

1107-543: The explored deposits under the National Reserves Committee standards it was 1,182 million carats ) accounting for 95% of total Russian stocks of raw materials. Alrosa is actively engaged in the exploration of new fields. Its assets have a number of new deposits in Western Yakutia. Alrosa is also launching prospecting and exploration works in Angola and Botswana . Alrosa operates in the Republic of Angola. Mining in

1148-477: The first primary deposit of diamonds in the Soviet Union , the kimberlite pipe Zarnitsa , was found. In 1955 the Mir kimberlite pipe and the Udachnaya pipe were discovered. A total of fifteen primary diamond sources were found in 1955. In 1957, a decision was made to begin mining and production operations on alluvial and ore deposits in Yakutia . To manage the facility's construction and subsequent operations,

1189-571: The large Amakinsky Expedition in Yakut ASSR . They found traces of the volcanic rock kimberlite , which is usually associated with diamonds . This finding was the second success in the search for kimberlite in Russia , after numerous failed expeditions of the 1940s and 1950s. (The first was Zarnitsa mine , 1954.) For this discovery, in 1957, Khabardin was given the Lenin Prize , one of the highest awards in

1230-645: The largest diamond mine in the Soviet Union. Its surface operation lasted 44 years, finally closing in June 2001. After the collapse of the USSR in the 1990s, the mine was operated by the Sakha diamond company, which reported annual profits in excess of $ 600 million from diamond sales. Later, the mine was operated by Alrosa , the largest diamond producing company in Russia, and employed 3,600 workers. It had long been anticipated that

1271-462: The mine. The winter temperatures were so low that car tires and steel would shatter and oil would freeze. During the winter, workers used jet engines to thaw and dig out the permafrost or blasted it with dynamite to get access to the underlying kimberlite . The entire mine had to be covered at night to prevent the machinery from freezing. In the 1960s, the mine was producing 10,000,000 carats (2,000 kg; 4,400 lb) of diamond per year, of which

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1312-472: The pit bottom. The largest diamond of the mine was found on 23 December 1980; it weighed 342.5 carats (68.50 g) and was named " 26th Congress of the Communist Party of the Soviet Union " ( Russian : XXVI съезд КПСС ). The mine operation was interrupted in the 1990s at a depth of 340 m (1,120 ft) after the pit bottom became flooded, but resumed later. The Mir mine was the first developed and

1353-650: The purpose of alluvial diamond mining in the Anabar ulus (far north-west of Yakutia). In August 2004, it was reorganized into OJSC Almazy Anabara. SC Almazy Anabara is one of the leading companies in the Republic of Sakha (Yakutia). It has been a wholly owned subsidiary of ALROSA since 2007. In 2017, Almazy Anabara and Nizhne-Lenskoye (its subsidiary company acquired in 2013) produced 5.2 million carats of rough diamonds; its share with Nizhne-Lenskoye in ALROSA Group’s production totaled 13% in 2017. Sociedade Mineira de Catoca (Catoca Ltd.) Sociedade Mineira de Catoca (Catoca Ltd.)

1394-665: The rating is about 0.5%). In January 2018, ALROSA was ranked 10th among corporations in Russia in terms of corporate transparence with an index of 6.0 out of a maximum of 10.0 (with the overall index for Russia being 2.6), according to the study "Transparency in Corporate Reporting", prepared by Transparency International - Russia. In 2021, ALROSA was ranked no. 53 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of

1435-413: The recovery of diamonds by conventional surface mining would end. Therefore, in the 1970s, construction of a network of tunnels for underground diamond recovery began. By 1999, the project operated exclusively as an underground mine. In order to stabilize the abandoned surface main pit, its bottom was covered by a rubble layer 45 m (148 ft) thick. After underground operations began, the project had

1476-561: The territory of the Republic of Sakha (Yakutia) Alrosa has four mining and processing divisions - Mirny, Aykhal, Udachny, Nyurba. The rest of deposits are developing through subsidiaries: OJSC Alrosa-Nyurba, JSC Diamonds Anabara and JSC Severalmaz. The reserves owned by ALROSA Group according to the standards of the State Reserves Committee totaled 1,171,951.7 thousand carats in C1+C2 categories as of January 1, 2018 (taking into account

1517-608: The world market. Through 1980, the rapid development of primary deposits continued in Aykhal township on the basis of the Jubilee pipe and in Udachny town. Today the Udachny open-pit mine is one of the largest open-pit mines in the world. Because the Soviet Union was very heavily indebted in the late 1980s, Viktor Vladimirivich Gerashchenko and six others travelled among Saudi Arabia, United Arab Emirates, and others from September 1990 until

1558-447: Was discovered with an estimated value of about $ 3.5 billion. In August 2009, during the recent financial crisis , Prime Minister Vladimir Putin announced the Russian government , via Gokhran , would buy $ 1 billion in uncut diamonds from Alrosa. This was to support the Russian diamond mining industry while avoiding saturation in the global diamond market and thus further depression of diamond prices. The diamond mining industry

1599-531: Was elected as the president of ALROSA. Since 11 January 2018, senior leadership position was renamed into "chief executive officer - chairman of the executive committee". The main production facilities are currently concentrated mainly in Western Yakutia and the Arkhangelsk region . In total Alrosa is developing 27 fields. The Company has a diversified production base consisting of 11 primary and 16 alluvial deposits. Primary deposits are developed both open-pit , alluvial operations and underground mining . On

1640-838: Was established in 1997. It holds the mining licenses for the Nyurbinskoye and Botuobinskoye primary deposits, and same-name placers closely associated with pipes. ALROSA owns 97,48% of interest in PJSC ALROSA-Nyurba which operates in the Nyurba District of the Republic of Sakha (Yakutia). The operator of the ALROSA-Nyurba development and mining projects, under the services agreement, is Nyurba Mining & Processing Division (MPD) of ALROSA. Share of Nyurba MPD in ALROSA Group’s production totaled 20% in 2017. On 21 September 2017, TASS news agency reported Alrosa's most expensive gem to date,

1681-572: Was mined by subsidiary Almazy Anabara, which operates the Severalmaz kimberlite pipes and placer deposits near riverways in the northwest part of Yakutia . Alrosa's trading policy is regulated by the Regulations on Procedures and Conditions of Selling Natural Diamonds drafted jointly with Federal Antimonopoly Service of Russia (FAS). In 2012, Alrosa signed a long-term agreement for the supply of rough diamonds with Belgium's Laurelton Diamondsa Inc.,

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