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Russia to increase diamond mining in 2004
The ALROSA Company, which mines 99.8 percent of all Russian diamonds, is planning to increase production 14 percent in 2004 and turn out uncut diamonds worth 1.856 billion dollars. In 2005 the company is going to increase the figure to two billion dollars, according to ALROSA President Vladimir Kalitin. He told Tass Thursday his company also plans to cut diamonds worth 137.1 million dollars this year. At present it produces and sells diamonds worth 2.2 billion dollars. Kalitin said the main task was to continue unprecedented simultaneous development of four underground diamond pits, which are to load company facilities for decades. ALROSA will also increase investments into prospecting of new diamond deposits in western Yakutia where its major mining facilities are located. Besides, the company is already developing diamond fields in the Arctic Anabarsk region. ALROSA accounts for 20 percent of world diamond production and by the monetary worth of the diamonds is second only to De Beers.
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