N e w s

Russian Diamond Monopolist Alrosa Company recently showed interest in Verkhotinsk Diamond Mines in Archangelsk. The history of development of this mine recalls several long-term conflicts between Russian and Canadian companies, who still quarrel over the ownership rights of these deposits. Alrosa may well take advantage of the situation and get hold of the second large diamond mine in Archangelsk. However, there is no conformation of negotiation between Alrosa and Canadian company regarding the sale of Canadian share package.

Western Yakutia is Russia's main diamond mining region. Archangelsk region is known for its random deposits , however, there are two native deposits, one of them is "Lomonosovskoe"- estimated to be the largest in Europe. The large scale exploitation of these mines is not yet carried out.