Severalmaz, a mining company 90% owned by Alrosa, is to begin selling rough diamonds in the course of the coming year.

According to Severalmaz’s predictions, some $12 billion worth of diamonds will be recovered from its Lomonosov deposit, which is located in the Arkhangelsk region.

Antwerp Facets quotes the company’s president, Nikolai Abramov, as saying that it plans to generate additional operations at a number of points in phase two of the Lomonosov project, which will enable a higher level of production.