CMT performed an independent estimate of Mineral Resources and Reserves at diamond deposits

From July to December 2023, CMT Consulting, under an agreement with JSC ALROSA (PJSC), performed an independent estimate of Mineral Resources and Reserves at diamond deposits as of 1 January 2023 in accordance with internationally recognized standards of the JORC Code.

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

As part of this project, CMT reviewed ALROSA assets to confirm Mineral Resources and convert Resources to Reserves with consideration of "modifying factors". According to the JORC Code terminology "modifying factors" include, inter alia, geotechnical, hydrogeological, economic, environmental and social aspects of mining, as well as land use issues. In addition, the adopted design solutions and potential risks in the field of mineral processing, tailings management and infrastructure were assessed.

As part of this work, CMT reviewed 49 ALROSA assets. For more reliable Resource and Reserve estimation, CMT’s multidisciplinary groups visited the assets reviewed.

Based on the results of the comprehensive multidisciplinary analysis, a Report was prepared, which included an overview and an estimate of Resources and Reserves to reflect the status of each mine and project (deposit) reviewed, in accordance with the structure and report nature adopted in the JORC Code.

Independent estimation of Resources and Reserves of diamond deposits is an important stage in ALROSA activities as it allows the prospects of deposit mining to be determined and ensures successful long-term business development.