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Pin to quick picksKarelian Regulatory News (KDR)

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Lahtojoki Diamond Deposit Update

Thu, 10th Feb 2022 07:00

RNS Number : 2229B
Karelian Diamond Resources PLC
10 February 2022
 

 

 

 

 

 

REACH: non-regulatory announcement

 

Karelian Diamond Resources PLC

("Karelian Diamonds" or "the Company")

10 February 2022

LAHTOJOKI DIAMOND DEPOSIT UPDATE

 

 

· Final Meeting of National Land Survey scheduled

 

· Process to be completed by June

 

· Full Mining Permit for development thereafter

  

Karelian Diamond Resources PLC (AIM: KDR), is pleased to announce it has been informed that the final public meeting of the National Land Survey in Finland in relation to the Lahtojoki diamond deposit is scheduled to be held during Spring and that the proceedings are to be completed by June 2022.

A Mining Concession over the Lahtojoki diamond deposit has already been approved by TUKES (The Finnish Mining Authority). The National Land Survey, on the order of TUKES, is undertaking the process in relation to compensation for landowners. This process has involved a series of public meetings and also submissions by the relevant landowners and the Company. By early 2020 the process had reached an advanced stage but was delayed by the onset of the COVID-19 pandemic and consequent restrictions on holding public meetings.

The Lahtojoki diamond deposit, located in the Kuopio Kaavi region of Finland, is one of the few diamond deposits in the world at a relatively advanced stage of development. The location of the deposit is highly favourable with excellent infrastructure, including good road access and power distribution, together with local technical and logistics availability.

The coloured stones that are expected to occur within the deposit, in particular the presence of pink diamonds, which can achieve very high prices, add significantly to the financial attractiveness of the deposit. The mine, when opened, will be the first diamond mine in Europe (outside Russia).

Professor Richard Conroy, Chairman, Karelian Diamond Resources PLC, commented:

 

"I am very pleased that progress towards completion of the National Land Survey's procedures is underway and that we now have a definitive timeline to work to. We look forward to obtaining a Full Mining Permit, in due course, and moving ahead with the development of the Lahtojoki diamond deposit."

 

 

Further Information:

Karelian Diamond Resources PLC

Professor Richard Conroy, Chairman

 

+353-1-479-6180

Allenby Capital Limited (Nomad)

Nick Athanas / Nick Harriss

 

+44-20-3328-5656

First Equity Limited (Broker)

Jason Robertson

 

+44-20-7330-1883

Lothbury Financial Services

Michael Padley

 

+44-20-3290-0707

Hall Communications

Don Hall

 

+353-1-660-9377

 

http://www.kareliandiamondresources.com

About Reach announcements 

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Date   Source Headline
1st Jun 20223:00 pmPRNLahtojoki Diamond Mine Development Update
25th May 20224:29 pmPRNHolding(s) in Company
10th Mar 20227:00 amPRNNickel Prospecting Licences Applied for in N.I
28th Feb 20227:00 amPRNHalf-year Report
10th Feb 20227:00 amRNSLahtojoki Diamond Deposit Update

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