Alrosa has acquired the Degdekan gold mine in Russia from Polyus, stating it complements their existing operations and will enhance financial stability. Alrosa’s Almazy Anabara division, responsible for 3.9 million carats of diamonds annually (11% of the company’s total output), made an initial payment of RUB 24 billion ($274.2 million) to Polyus for the development of the deposit. The total value of the transaction remains undisclosed due to sanctions affecting both parties.
Alrosa CEO Pavel Marinychev expressed confidence in leveraging their expertise in associated gold mining to benefit from and expand upon the newly acquired asset. He emphasized that developing the gold ore deposit will create synergies and bolster Alrosa’s financial resilience in the long run.
Development activities at the mine will commence upon completion of the feasibility study, with initial operations slated for 2028. By 2030, the mine is projected to reach full production capacity, yielding approximately 3.3 tonnes of gold annually. Operations are anticipated to continue until 2046, supported by the construction of a quarry, a gold extraction plant, a tailings storage facility, and necessary infrastructure. The current estimated reserves at the site stand at 100 tonnes.
