This year British company Fleming Family & Partners will buy 43% of the “Severoalmaz” Company’s shares in Archangel. The Lomonosov deposit in Archangel region is one of the largest in Europe and its resources are equal to $12 bln. According to Sergey Vybornov, the managing director of the ALROSA Investment Group, general agreement with Fleming Family and Partners will be signed in May-June. In 2004 “Severoalmaz” will start diamonds mining and it is planned to extract for about 400000 ct of diamonds and starting from 2006 3,5-4 mln ct a year. It will gain more than 10% to the present level of diamonds mining volume in Russia. Diamonds mined can be cut at the “Brillianty Pomorya” cutting plant.