FX.co ★ LUKoil is set to mine diamonds

Russia's largest private oil company LUKoil will initiate an industrial mining of diamonds at company's owned field named after Vladimir Grib. The information was distributed by the government of Arkhangelsk region in the official press release.
The reserves are estimated to hold 100 million carats. The exploration started in 1996. LUKoil Chief Executive Vagit Alekperov explained that this is a pilot project in the field of diamond mining for the company. He added that more than 3,000 new workplaces will be created.
Official mass media, citing anonymous sources, reported that in 2012 the experts made a proposition to LUKoil and Alrosa LUKoil and Alrosa, Russia's biggest diamond company, to exchange their assets. In return for the Grib field, LUKoil could get Alrosa's gas assets, one of which is located 30 km far from the diamond field.