According to Gazeta.ru, Russian diamond monopolist ALROSA has increased its share in OJSC Severalmaz from 71,87% up to 92,48%. The administration of Archangel region is said to sell its shares in the company. Experts explain this acquisition in terms of control over the enterprise passing from regional authorities to the federal ones.

Severalmaz exploits the Lomonosov’s diamonds deposit — the only Russian diamonds deposit in European part of the country prepared for industrial exploitation. ALROSA has already invested $30 mln into the project. It is planned to mine the first industrial diamonds at the deposit in September-October 2004 года.