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. Last Updated: 07/27/2016

Foreign Gem Miners

MOSCOW () -- A Russian diamond-mining company said Monday it might consider inviting foreign miners to help tap the large Lomonosov diamond field near the northern port city of Arkhangelsk.

"We are considering all options [for a development partnership] right now, both domestic and foreign," said Vitaly Fortygin, general director of Severalmaz, which holds the license to tap Lomonosov.

Fortygin, speaking from Arkhangelsk, said Severalmaz was considering working with Eastern Mining Ltd. and De Beers, among others. He said Severalmaz will begin mining operations in 1999, and that Lomonosov could be worth $12 billion.