De Beers Plans to Invest in Russian Mining
March 30, 05 by Edahn Golan
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DB MD Ralfe
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On the heels of an agreement to decrease Alrosa’s supply to De Beers, the South African based miner plans to invest in Russian diamond mining and share technology with its Russian counterpart, says De Beers Managing Director Gary Ralfe.
A group of Russian members of parliament are visiting South Africa to see De Beers' operations in the country and met with Ralfe.
According to Ralfe, after 45 years of being the largest buyer of diamonds from Russia, the company intends to invest in prospecting and mining in the country. Currently De Beers is prospecting for gem quality diamonds south of St. Petersburg, in the Luga area.
In an interview with Itar-Tass he said another project De Beers is considering is mining industrial diamonds in the Archangelsk region. Finally, De Beers has offered Alrosa to cooperate in underground mining technology in Yakutia.
