Alrosa Completes Purchase of Alluvial Miner For $217 Million
June 10, 13
(IDEX Online News) – A unit of Russian diamond miner Alrosa has completed the acquisition of alluvial diamond mining firm Nizhne-Lenskoe for around $217 million in a deal financed by new short-term debt. 
Almazy Anabara, a wholly-owned division of the Russian mining giant, paid $113.6 million in January for a 51-percent stake in Nizhne-Lenskoe and has now acquired the remaining 49 percent in the firm.
Nizhne-Lenskoe operates in the northwest of the Republic of Sakha (Yakutia) close to Almazy Anabara’s facilities. It owns a number of alluvial deposits, and its rough diamonds have an average price per carat of $100-$180.
Nizhne-Lenskoe’s output last year was 1.5 million carats, and it posted revenue of around $145 million.
Alrosa, with its experience, aims to optimize operational as well as sales performance of Nizhne-Lenskoe.