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Article: Russia: Alrosa to invest $2.8 bn in three diamond mines.
- Article from:
- TendersInfo
- Article date:
- September 2, 2009
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Byline: pinto03
Alrosa, Russia's largest diamond miner has announced that it would invest over $2.8 billion by 2014 in three new mines. The total annual capacity is estimated to be about 6 million metric tons of diamond ore. The mining company accounts for almost 25 percent of global diamond output. This large-scale program of building underground mines is to preserve Alrosa's mineral base and keep its positions on the global market.
Contemplating on this, Mr. Siddharth Kedia of Suashish Diamonds, says, "Alrosa has substantial reserves of rough diamonds and such long term plans by the mining giant is good for the industry. In few years time, there will ...