On 17 April, ALROSA’s Executive Committee considered the 2014 exploration performance to declare all the targets successfully achieved.
In 2014, the company and its subsidiaries conducted exploration in the Republic of Sakha (Yakutia), Arkhangelsk Region and Africa. The exploration budget for 2014 exceeded RUB 6 billion, with about 97% of the total 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.
Today, 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.
Nizhne-Lenskoye (part of ALROSA Group) completed exploration at the Bolshaya Kuonamka River placer deposit to have its reserves approved by the Russian State Reserves Committee. Severalmaz, ALROSA’s subsidiary 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.
ALROSA’s Executive Committee also considered the 2014 operating and financial performance indicators, and granted a preliminary approval of the company’s Annual Report.