OREANDA-NEWS. December 29, 2012. JSC Almazy Anabara, a subsidiary of ALROSA, won the auction launched by the Ministry of Property and Land Relations of the Republic of Sakha (Yakutia), which put a 51-percent stake in JSC Nizhne-Lenskoye on the block this Saturday.

The bidding for the shareholding closed at RUB 3.67 billion.

Nizhne-Lenskoye is mining alluvial diamonds in the immediate vicinity of the operations run by Almazy Anabara. The company is annually producing about 2 million carats of rough, while its diamond stocks are estimated at 26.4 million carats. The existing and expected mineral resources of Nizhne-Lenskoye are sufficient to maintain diamond mining for 17 years.

"One of the strategic tasks of ALROSA is to build up its mineral reserves. Acquisition of Nizhne-Lenskoye will provide additional production of 2 million carats a year," Fyodor Andreev, President of ALROSA, said.