The government of the Russian Federation has granted state-owned diamond producer Alrosa licenses to develop the Verkhne-Munskoe and Maiskoe diamond deposits in the Republic of Sakha, Alrosa reports.

The Verkhne-Munskoe deposit contains three kimberlite pipes estimated to contain over 38 million carats of diamonds valued at over $210/carat. The smaller Maiskoe deposit comprises one kimberlite pipe with an average ore grade of 3.7 carats/ton and a total estimated reserve of some 12 million carats.

According to Alrosa, since both diamond deposits are located within range of its existing production facilities in the western part of the Republic of Sakha, development will not entail significant capital expenditure.