Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, has recovered a 136.24-carat rough diamond from its Nyurbinskaya pipe, a known source of big rocks.
The gem-quality rough diamond, which is 3 Black Makeable 1 colour, measures 29.32 х 23.88 х 21.9 mm and is one of the largest through the history of Nyurbinskaya pipe, the company said.
The diamond is one of the largest stones Alrosa has ever recovered at the Nyurbinskaya pipe.
Currently unnamed, the stone is a combination-form translucent colourless part of a crystal with columnar interlocking sculpture and it contains graphite and sulphide composition.
The Nyurba Mining and Processing Division, one of Alrosa’s youngest units, runs the Nyurbinskaya open-pit mine, in operations since 2001. Last year, Nyurbinskaya accounted for 13% of Alrosa’s total rough diamond production.
Last month, Russia’s government completed the sale of a 10.9% stake in the diamond miner. It was the biggest divestment of a state asset since the government reduced its stake in the diamond producer almost three years ago.
