Russian diamond mining company Alrosa has claimed to have put nearly £16 billion back into the region of Yakutia where 90% of its operations take place.
This comes from its first ever Insight Report, which covers the period of 2010-2020, during which Alrosa claims to have contributed significantly to the region’s economic and social development.
It particularly aims to increase access to housing, medical care, education and cultural activities, and provide local communities with improved infrastructure.
Given the rich supply of diamonds in the area, Yakutia receives much of its funding from diamond mining and sales in the form of taxes and dividends.
For example, Alrosa contributed just over £6 billion in taxes between 2010-2020.
It has also paid over £5 billion in salaries over that period, as well as pension payments in the tens of millions.
Finally, it also invested a further £3.6 billion in social development, infrastructure, housing, and utilities in the region.
Sergey Ivanov, CEO of Alrosa, said: “We are pleased to publish our very first Impact Report.
“This is an important milestone that demonstrates our commitment to transparency and implementing our long-term sustainable development strategy.
“Looking ahead, our key focus remains ensuring the wellbeing of our people whilst leveraging our long-standing presence in the region to sustainably unlock its full potential.
“We are therefore creating jobs, guaranteeing our workers a competitive salary and benefits, and helping build schools, hospitals and sports facilities.
“Much work remains to be done, and we look forward to continuing to build on our progress to ensure a sustainable future for generations to come.”