Alrosa Looks to Revive Mir 10 Years After Flood

Alrosa is looking to reopen its Mir mine in 2027, 10 years after it closed due to flooding.

The company is continuing to advance its plan to renew the Mir mine’s operations, and it is considering bringing the start date forward amid favorable economic conditions and lower borrowing expenses, it said last week. The Russian government has approved the project, and the preliminary work that commenced in 2023 has finished.

The Mir mine closed in 2017 following a flood that killed eight workers. In 2019, the  company believed that the operations at the site wouldn’t resume until 2030, which puts the 2027 plan three years ahead of schedule. In 2020, the company began tests to determine whether the mine was still economically viable.

Meanwhile, the company made significant investments in 2025 to strengthen its assets, among them allotting around RUB 4.4 billion ($58.7 million) toward the development of the Aikhal mining and processing plant. The funding is likely to extend the mine’s operational lifespan until 2039.

Production at the Udachny mine exceeded its forecast due to updates at the mine’s processing plant as well as different engineering activities that increased productivity by 39%. The company plans to combine the Udachny and Aikhal mining and processing plants to optimize production, accelerate the deployment of machinery and equipment and improve force flexibility, it said.

In 2025, a study of Alrosa’s mineral resources base showed that it had added nearly 57 million carats to its reserves, and in 2026, the miner expects to produce 3.5 tonnes of gold. Two years ago, the diamond miner spent $274 million to develop a new gold deposit that would allow it to continue to diversify.

Image: The Mir mine. (Alrosa)