Russian mining giant Alrosa unearths record-breaking diamond
Alrosa has discovered the largest diamond in Russian history. The 468-carat stone was named "80 Years of Victory in the Great Patriotic War". The discovery was made at the Mir mine, which recently resumed operations after its closure in 2017 due to flooding.
The Russian mining giant Alrosa announced the discovery of the largest diamond in the country's history. The 468-carat, amber-coloured stone was named "80 Years of Victory in the Great Patriotic War", referring to the USSR's victory in World War II, writes "The Moscow Times".
This is the second major discovery in Russia. Just a week earlier, Alrosa announced the discovery of a diamond named "New Sun". The yellow diamond weighed 100 carats and was derived from a raw stone mined in Yakutia.
Revived mine
The Mir mine, where the diamond was found, is located in the Sakha Republic (Yakutia) and is one of the largest in Russia.
It resumed operations after being closed in 2017 due to flooding that killed eight employees. Alrosa plans to increase diamond production to 2 million carats annually.
Alrosa, holding a 99.6% share in Russian diamond mining, accounts for nearly 30% of the global supply. The company is investing £579 million in modernising the Mir mine, which is set to reach full capacity by 2030 and operate until 2048.
Challenges for the Russian industry
Last month, Alrosa announced a temporary suspension of operations in several less profitable locations, reducing annual production by less than 1 million carats. Nonetheless, the company still plans to produce 29 million carats of diamonds in 2025.
Production data from recent years shows a downward trend. In 2023, the company reduced production by 2.8% to 34.6 million carats, and in 2024 by a further 4.6% to 33 million carats.
