Russian diamond miner Alrosa has closed the acquisition of 100% of alluvial diamond mining company Nizhne-Lenskoe for RUB7bn ($216.8m).
The acquisition was financed by new short-term debt.
Alrosa’s wholly-owned subsidiary, Almazy Anabara, in January 2013 purchased 51% interest in Nizhne-Lenskoe for RUB3.67bn ($113.6m), and now closed the deal for the remaining 49% stake.
Nizhne-Lenskoe operates in north-west part of the Republic of Sakha (Yakutia) near the existing production facilities of Almazy Anabara, and has several alluvial deposits with rough diamond prices from $100/ct to $180/ct.
In 2012, Nizhne-Lenskoe produced 1.5 million carats with revenue of RUB4.7bn ($145.5m).
Alrosa, with its experience, aims to optimize operational as well as sales performance of Nizhne-Lenskoe.