Modern Mining February 2022

MINING News

ALROSA offers the market additional supplies of rough diamonds

An ALROSA diamond

In line with its approach of fostering long-term sustainable development of the diamond market, diamond producer ALROSA is offering its customers an oppor- tunity to adjust their diamond purchase schedules under trading sessions. The demand for rough diamonds in

Aykhal, Republic of Sakha, Russia.

early 2022 as well as in the second half of 2021 was outstripping supply, as cutters were actively buying rough to restock and

fulfil the orders placed by jewellers and retailers, the company said. Given the primary importance of a bal- anced market and the need to meet the real-backed demand, ALROSA is offering its long-term customers a new option to adjust supply schedules between trading sessions. As a result, holders of long-term contracts can buy rough diamonds from their allocations ahead of the schedule by shifting booked volumes to an earlier date, ALROSA stated. “The first quarter of the year is tradi- tionally a period of active rough diamond purchases, as cutters seek to stock up after a holiday season in retail. The high season of 2021 was one of the most success- ful in the entire history, as we see robust demand from our customers underpinned by real orders. By reaffirming its commit- ment to a prudent and balanced policy aimed at sustainable progressive growth of the industry, ALROSA is offering its cus- tomers a new option of adjusting diamond purchase schedules within their alloca- tions by requesting part of the booked rough diamond volumes be moved to an earlier date. We believe that this innova- tion, together with the Gokhran auction slated for late February 2022, will speed up progress in addressing current market deficit. With the same goal in mind, we will hold an additional tender between trading sessions. We will offer the rough diamonds highly sought-after by cutters as soon as these goods leave the work-in-progress,” said ALROSA’s Evgeny Agureev. 

Underground mining at Alrosa’s operations.

Mako commences drilling at Korhogo project ASX-listed Mako Gold recently commenced with a 7 000 m, 1 400-hole auger drilling programme on the Ouangolodougou and Korhogo Nord permits which constitute the Korhogo project. Both permits are 100% owned by Mako and are easily accessible from the existing Mako field office.

Barrick’s 4.9 moz Tongon Gold Mine. We are fast-tracking the auger drilling sampling programme with two rigs on the ground so that we can commence a 10 000 m AC drill- ing programme when the auger results are received. We are fully financed to advance this exciting new greenfield programme on the Korhogo Project, as well as the Napié Project which remains our primary focus as we rapidly progress towards our mineral resource estimation.” 

Mako’s MD, Peter Ledwidge commented: “We are pleased to be advancing exploration on our Korhogo Project in the highly prospec- tive Birimian greenstone belt which hosts

8  MODERN MINING  February 2022