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.
Due to improvements in the global diamond market, Russian major Alrosa has decided to bring the processing plant of its Lomonosov mining and processing division, Severalmaz, back into operation on March 1, a month earlier than previously planned. The plant was suspended last October.
Preparatory and repair works are underway to minimize forced shutdowns of the plant after relaunch and ensure that the planned production program is completed. It was planned to process 3 million tonnes of ore in 2021.
Specialists have already repaired mill No. 2, vertical conveyor No. 2, belt conveyor No. 8, a sampler, a collector, classifiers, apron feeder No. 2 and a jigging machine. Plans imply the replacement of the lining of mill No.1, repairing the conveyor equipment, elevators, pump park, screens, an apron feeder, a reloading device and installations for the destruction of oversize rock mass, the miner said.
Due to the covid-19 pandemic and the group’s reduced production plan, Severalmaz switched to seasonal operations last year. The processing plant was suspended from May 16 to July 8, and was relaunched for the period until October 13. Mining was suspended from May 13 to November 1.
Diamond production at Severalmaz was 2.8 million carats during the calendar year.
