Archangel diamond field to be mined by Lukoil

Archangel diamond field: Lukoil  is to spend an estimated $850m mining the Archangel diamond field, its Chief Executive Vagit Alekperov told journalists at the St. Petersburg International Economic Forum on Friday. This is a new venture for Lukoil, which plans to extract around 58m carats from a 460m deep open-pit mine over the next 16 years. ITAR-TASS