The Russian ministry of natural resources has granted four diamond exploration permits for sites in the Murmansk district in north-western Russia, according to reports by Antwerp Facets News Service.%%The major known diamond deposit in Russia’s northwest, called Lomonosov, is being developed by Severalmaz OJSC, which was formerly controlled by De Beers and is now a subsidiary of the state-run diamond mining company, Alrosa.%%De Beers, through its controlling interest in Archangel Diamond Corporation, is engaged in a legal dispute over the Verkhotina project with Arkhangelskgeoldobycha, a subsidiary of Russia’s largest oil producer, LUKoil, over the Grib kimberlite pipe. The matter is due to come up before the Stockholm Arbitration Tribunal in June 2008.%%The Grib pipe is some 70 km from the Lomonosov deposit, and is thought to contain diamonds worth $5 billion.
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