ALROSA prepares to return the “Mir” Mine in Yakutia to Diamond Mining

ALROSA will make a final investment decision in 2026 on the construction of the “Mir-Gluboky” underground mine in Yakutia. The project involves resuming mining at the “Mir” deposit, which was suspended after the 2017 accident. This is stated in the company’s consolidated report for 2025.

The project effectively means creating a new enterprise. It is not about restoring the old mine, but about developing reserves below the accident zone — at depths from -575 to -1300 meters. Implementation will allow the return to development of one of the world’s largest diamond deposits and form a long-term raw material base for the company.

The State Commission on Reserves has put almost 200 million carats of diamonds on the balance sheet. The design capacity of the mine will be about 2 million tons of ore per year, which is equivalent to approximately 5.6 million carats. Full capacity is scheduled for 2034.

The resumption of mining occurs against the background of structural changes in the global diamond market. Large deposits in Canada and Australia are gradually being depleted, while new projects are rarely introduced. At the same time, competition from synthetic diamonds is growing, which puts pressure on demand.

“Mir” is a diamond pipe in Yakutia, discovered in 1955. For a long time, it remained one of the largest sources of diamonds in Russia. Initially, mining was carried out by open-pit method, then by underground method. The 2017 accident led to the flooding of the mine and the complete cessation of work. The “Mir-Gluboky” project involves the development of deeper horizons of the deposit.