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While emeralds have been mined for more than 170 years in the Urals, more than 60 percent of known deposits still remain.



  Production resumes in the Urals at Europe's largest emerald mine


January 10, 2012


Production of emeralds has reportedly resumed in the Sverdlovsk Region in the Urals, home of Europe's largest beryl deposit, the regional government has reported. The resumption of mining follows several years of inactivity.

Deposits of emeralds in Russia are concentrated within the so-called Ural Emerald Belt. While there are 26 known deposits and instances of emerald mineralization, the Malyshevsky Mine accounts for about 90 percent of the country's emerald reserves. The Malyshevo deposit itself is 25 kilometers long and 2 kilometers wide.

The Ural emerald deposits were all discovered between 1831 and 1839, but according to Russian experts A.F. Laskovenkov and V.I. Zhernakov in more than 170 years they have only decreased in volume by between 30 percent and 35 percent.

Until 1993, the Malyshevsky Mine was run by the Soviet Ministry of Atomic Energy. Privatization led to the creation of a company called Izumrudniye kopi Urala (Emerald Mines of the Urals), but it was forced to declare bankruptcy in May 1997. A Russian-Irish venture called Zelen-Kamen JSC then assumed control, but it too was declared bankrupt under an arbitration procedure in 2002.

In 2004, a Canadian company Tsar Emerald Corporation (TEC) took over the mine, but its success was also shortlived. In 2007 the the Urals Mining Co. won the rights to develop the Sverdlovsk emerald deposit. At the time experts estimated the value of the Sverdlovsk reserves to be $10-12 million and the investment necessary to exploit the the deposit was said to be between $1.5 million and $2 million.

With emerald production resuming in the area, it is hoped that mining activity will provide 560 jobs once production reaches design capacity. "For a small mining town, this is a substantial figure. Many social and economic problems in the district will be resolved, and the quality of life will rise. People will feel confident about the future," acting Governor Anatoly Gredin said.

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