ALROSA

"Rosneft" and Alrosa extend the time on their deal on gas assets while the reserves update is conducted.

Rosneft" has extended the implementation of the transaction for its buying of the gas assets of "ALROSA", the oil company continues to update the asset reserves, "Rosneft" spokesman told the "Prime" agency.
"The contract is extended, the company continues to update the reserves of the  assets", - the agency interlocutor stated.
Earlier, Fyodor Andreyev, the President of ALROSA claimed that the sale of series of oil and gas assets of the diamond-mining company to "Rosneft" could be closed in the first quarter of 2014.

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Alrosa’s supervisory council has agreed a new list of its participants at absentee voting

The total list of candidates includes 22 persons, including the foreign independent directors – for the first time within the whole history of the company. They are R. T. Morgan, the partner of Baring Vostok Capital Partners, and T. J. O’Neill, the member of the Board of Directors of Aurum Holdings Limited and the ex-CEO of Harry Winston. They are suggested by the fund of Lazard Asset Management representing the minority shareholders.

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Evraz asks for deferred payment to hasten the launch of Timir

As the Kommersant discovered, Evraz asked Alrosa to allow it to defer payment of 2.97 billion rubles for a share in the iron-ore mining and metallurgical company Timir and the extension of the payment period to 2016. Evraz motivates its request by the fact that money is necessary to hasten the launch of the Timir’s Tayezhny GOK. The proposal is discussed, but Yakutia  govt (which owns the blocking package of Alrosa) has given preliminary support to the idea to avoid the failure of the project launch time.
Sources that are close to the companies told the Kommersant that Evraz addressed the proposal to Alrosa to pay the remaining amount of 2.97 billion rubles for 51% of Timir’s shares by installments. According to shareholder agreement of the parties, Evraz was to pay before the end of 2014, but the company proposed a new schedule of payments with makeup of the sum for three equal tranches in the amount of 990 million rubles each, which must be paid before the end of 2014, 2015 and 2016 respectively.

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Evraz invests more than 9 bln roubles into iron ore production in Yakutia

A mining-and-smelting company Evraz Plc is about to invest more than 9 billion roubles into the iron ore deposit in Yakutia “Taezhnoye” before 2017. The vice-president of the company for large-scale projects, chief executive of the division “Ruda” M.Atnashev said about it to ITAR-TASS. “The construction of the Taezhny GOK will start next year, an implementation of the project is planned for 2016 and an attainment of the projected capacity in 2017,” he said.
Full-scale development of the deposit will approximately need 60 billion roubles, according to Atnashev. “There necessary 9 billion roubles of investment for the next three years,” he said.

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Lukoil’s subsidiary Arkhangelsk-Geoldobycha (AGD) completed preparing to diamonds industrial production at the Verkhotinsky deposit in the Mezensky district

The President of Lukoil V. Alekperov has invited to the launch of the combine V. Putin. Recently Mr. Alekperov visited Arkhangelsk and claimed that the launch of the plant is planned for April.

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Alrosa to mine 5 million carats per year at the Udachnaya pipe

In July of 2014, Alrosa plans to launch the largest underground mine in the world at the kimberlite pipe of Udachnaya, provided for mining of 4 million tons of ore that corresponds to production of a little more than 5 million carats of raw diamonds, the company’s head, Fedor Andreev reported at the meeting with the Russian President ,Vladimir Putin.
“In July of the current year, we plan to launch the largest underground mine in the world  - the Udachny – that will allow us not only to maintain our production level, but also provide people with jobs,” – Andreev said.

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Andreev may keep the office of the president of ALROSA for another 5 years

The Supervisory Board of ALROSA (ALRS) has initiated procedure on renegotiation of the labour contract with the president of the company F.Andreev. The contract may be prolonged for another 5 years, “Kommersant” writes. The candidacy of Andreev was supported by both federal and republican authority. The issue was placed for discussion in the Supervisory Board of ALROSA,” the source in the government says.
According to another source, the meeting was already held.
The Ministry of Finance supports the candidacy of the top-manager.

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Alrosa has refinanced short-term debt having not succeeded in waiting of $1.38 billion of the debt for gas assets from Rosneft

Vedomosti writes that Alrosa has refinanced short-term debt having not succeeded in waiting of $1.38 billion of the debt for gas assets from Rosneft. They give no information about the bank and the terms of the raised credit.

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In 2014, Yakutia will increase oil production by 30%

In 2014, Yakutia will increase oil production by 30% to 9.9 million tons, the Minister of Economy of the region O. Fyodorova says. She claims that the sector stably develops in the region. Under the preliminary forecast, in 2013 Rosneft owning Taas-Yuryakh Neftegazdobycha extracted over 1 million tons of oil in Yakutia, by 5.5 times more than in 2013. Surgutneftegaz increased production as well. In 2014, they are going to increase production by 22.4% to 8.8 million tons. Besides from that, in September 2013, Rosneft bought 100% in Irilyakhneft from Alrosa.

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Sharonov can become the chief of the supervisory council of Alrosa

The rector of the Moscow management school ‘Skolcovo’ A. Sharonov has been included to the preliminary list of candidates from the state to the supervisory council of Alrosa that will be elected at the annual shareholders session in 2014. He can be elected its Chairman.
In November, Alrosa reported that on December 20 they plan the extraordinary shareholders session that will elect the supervisory council. 19 candidates were offered for 15 places, and Mr. Sharonov was not included then.

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