Karelian Diamond Resources plc has registered its mining concession for the Lahtojoki project with the land registry in Finland.
RIGHTS
The documents have also been sent to the country’s mining authority, TUKES, for processing.
The company now awaits a mining certificate with the mining rights to the licence.
The property in the Kuhmo region covers 71 hectares, circa 176 acres, and encompasses a “kimberlite pipe” with a surface area of 16 ha.
A new hearing relating to compensation for farmers in the area is now expected in Autumn 2025.
Lahtojoki contains “high quality” colourless gem and coloured diamonds including pink diamonds.
Karelian said that a 2017 preliminary economic assessment, excluding the impact of the coloured diamonds, indicated more than two million carats recoverable from an open/vertical pit mining operation.
The life of mine is more than nine years with payback by the second year.