Governor Sergey Nosov of Magadan and Pavel Marinchev, head of ALROSA, converse about advancing the company's ventures in the region.
In the city of Magadan, recently, ALROSA's top brass, including CEO Pavel Marynich, sat down with Magadan Oblast Governor, Sergei Nosov, and the local government leadership. The heart of the discussion revolved around the progress of a project aimed at developing the gold deposit, "Degdekanskoye Field."
Things are looking encouraging on the project front, as all anticipated drilling volumes for sampling have been covered at the deposit, and the rehab work on the sites is nearly done. The conversation also delved into the prospects of broadening the resource potential of the deposit.
In attendance were not just the bigwigs, but also ALROSA's First Deputy CEO, Sergei Pavlenko, and the head of the company "Alrosa Anabar," Aleksei Okorokov.
A Cooperation Agreement between Magadan Oblast and PJSC ALROSA was inked in September 2024 at the Eastern Economic Forum.
While there's been no recent update on the project's status following this meeting, it's worth noting that in July 2024, ALROSA nabbed the Degdekanskoye gold deposit from Polyus through its subsidiary JSC Almazy Anabara[1]. This acquisition suggests ALROSA is on a roll, expanding its Russian operations. Historically, such deals are part of broader strategic expansions designed to beef up production abilities and market dominance. Yet, for a clearer picture of the project's present and future, updates from ALROSA or the Magadan Oblast government would be needed.
In light of the Cooperation Agreement signed in September 2024 between Magadan Oblast and PJSC ALROSA, it appears the discussions between the industry players, including ALROSA's CEO Pavel Marynich and Magadan Oblast Governor, Sergei Nosov, are aimed at not only advancing the development of the Degdekanskoye Field, but also at broadening the finance and business prospects within the industry. Furthermore, the acquisition of the Degdekanskoye gold deposit by ALROSA in July 2024 indicates a significant move in the finance sector, as the company seeks to expand its Russian operations and increase its dominance in the industry.
