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ALROSA is interested in uranium?
As it has been published by Forbes in June 2004, ALROSA Company could have gained more if had reduced raw diamonds sales and increased jewellery and polished trade. However, jewellery and polished projects of the company have not reached a new level still: in 2004 polished sales amounted to $130 mln and raw - $2.18 bln. The main shareholder of the company – the State – wants raw sales to be not less than $2 bln - that’s the reason.
Recently the State got an idea to attract ALROSA to uranium mining. Russia has uranium deposits but lacks money for their exploitation.
In May 2005 ALROSA Investment Group, a subsidiary of Russian diamond monopolist, and Atomredmetzoloto Company signed a letter of intent that provides joint participation in gold and uranium deposits exploitation. In is planned that the mining works will start in several years, after geological exploration.
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