Performed an independent assessment of mineral resources and reserves of diamond deposits

During the period from July to December 2023, SMT Consulting specialists, within the framework of an agreement with the company AK ALROSA (PJSC), carried out an independent assessment of mineral resources and reserves of diamond deposits as of January 1, 2023, in accordance with the internationally recognized standards of the JORC Code.

The assessment covered all major deposits of the ALROSA Group, which account for about 90% of diamond production in Russia.

As part of this project, SMT specialists reviewed the assets of the ALROSA Group with a view to confirming mineral resources and transferring resources to reserves after considering “modifying factors”. In the terminology of the JORC Code, “modifying factors” include, but are not limited to, geomechanical, hydrogeological, economic, environmental and social aspects of mining, as well as land use issues. In addition, the design decisions taken and possible risks in the areas of enrichment, tailings management and infrastructure were assessed.

During the work, SMT specialists examined 49 assets of the ALROSA company. For a more reliable assessment of resources and reserves, SMT specialists visited the assets as part of multidisciplinary teams.

Based on the results of the multidisciplinary comprehensive analysis, a Report was prepared, which included a general overview and assessment of resources and reserves, corresponding to the status of each mining enterprise and project (deposit) under consideration, in accordance with the structure and nature of reports adopted by the JORC Code.

An independent assessment of the resources and reserves of diamond deposits is an important stage in the activities of the ALROSA group of companies, which makes it possible to determine the prospects of deposit development and ensure successful business development in the long term.