Today the President of the Russian Federation Vladimir Putin and the President of LLC ”LUKOIL” Vagit Alekperov took part in formal ceremony of setting to work mining and concentration complex at diamond deposit named after Vladimir Grib. The Field development program is included to the list of prior investment projects in the North-Western federal region of Russian Federation, that is confirmed by the RF President. The field is situated in 130 km to the North-West from Arkhangelsk. Development of the deposit is carried out by open-pit-mining. The largest diamond mining is planned to be 4,5 mln. Carats a year.

In mining and concentration complex there are included concentration plant of capacity 4,5 mln. tons of ore a year power complex of capacity 26 MW, workers’ settlement for 700 people, laboratory facilities, core storage, objects of ecological safety, including purification plants and also fire department and mine rescue unit.

All objects of the deposit totally correspond to the RF legislation of industrial security, labor protection and environmental control. Company expenses for these aims made up about 600 mln. Rubles.

Workers of the mining and concentration complex is about 2 thousand people and is mostly made up of Arkhangelsk and Arkhangelsk region inhabitants, which have undergone professional and advanced training

Tax liabilities to the budget of all levels, during the complex operation period, is to be about 30 milliard Rubles.