Lukoil to Produce 2 Million Carats in 2015

Rapaport reported that Lukoil (OTCMKTS:LUKOY) plans to step up diamond production next year by about 40 percent year-on-year, to 2 million carats. The company began diamond mining operations in June at the Grib open-pit mine in Arkhangelsk.

As quoted in the market news,

Lukoil, which began diamond mining operations in June at the Grib open pit mine in Arkhangelsk, expects to increase production in 2015 by about 40 percent year on year to 2 million carats, according to the Interfax news agency.   Lukoil stated in September that peak diamond production at the Grib pipe is expected to reach 4.5 million carats per year.

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