AGD Diamonds to begin diamond prospecting in Arkhangelsk region under PPP in 2025-2027, looking for gold - governor

ST. PETERSBURG. April 23 (Interfax) - AGD Diamonds will begin to identify promising areas for diamond mining in the Arkhangelsk region under a public-private partnership (PPP) in 2025-2027, the press service of the governor and the regional government said.

The governor, Alexander Tsybulsky, unveiled the company's plans on Wednesday at a meeting of the regional Assembly.

The company will carry out diamond prospecting at the Shenkurskaya area in the Velsk district in parallel with government research.

"A similar practice will be continued at the Koydinskaya area [in the Mezen District]. Financing is carried out using a combined model: through a state assignment from subsurface resources agency Rosnedra via the Karpinsky Institute and the company's own funds," the press service said.

AGD Diamonds is looking for diamonds in eight more promising areas, and is also actively searching for gold at three sections in the Onega and Plesetsk districts with estimated resources of 160 tonnes.

Also, federal funding of 300 million rubles is planned for 2024-2026 for geological mapping of the Vazhskaya area in the Onega and Plesetsk districts - this will localize areas recommended for licensing for further diamond prospecting.

The Arkhangelsk region's press service has quoted the deputy head of the regional government, Igor Murayev, as saying the region's resource potential for diamonds is about 750 million carats, three times the reserves of existing deposits.

AGD Diamonds develops the V.P. Grib deposit in the Mezen. Severalmaz part of Alrosa , develops the M.V. Lomonosov deposit the Arkhangelsk region.

The region produced an estimated 8.2 million carats of diamonds in 2024, its Natural Resources and Forestry Ministry said.