Russian diamond mining giant Alrosa has announced that by 2014 it plans to invest over $2.8 billion in three new diamond mines with an estimated total annual capacity of 6 million metric tons of diamond ore.

Alrosa is currently implementing a program to construct underground mines to preserve its mineral base and sustain its position on the global market.

Alrosa noted that from September 1 it would fully restart operations at its mining and ore enriching plants, in the aftermath of suspension stemming from a slump in diamond demand during the ongoing economic crisis.

In 2008, the Alrosa Group sold rough diamonds valued at $2.18 billion and polished diamonds worth $157.5 million.