[Description: Description: Karelian]
Karelian Diamond Resources plc
("Karelian Diamonds" or "the Company")
11 March 2024
LAND COURT HEARING SET FOR LAHTOJOKI DIAMOND DEPOSIT
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce that it has now
received the official notice of the date of the court hearing by the Finnish
Land Court, of the appeals by two landowners regarding the amount of
compensation to be paid to them and the mine boundary in relation to the
development of a diamond mine by the Company at Lahtojoki in the Kuopio Kaavi
region of Finland . The date set for the court hearing, which will be held in
Kaavi, is Tuesday 21 May 2024.
As previously announced by the Company a mining concession application for the
Lahtojoki diamond deposit has already been approved by TUKES (the Finnish mining
authority) and the National Land Survey has carried out the process in relation
to ground rental compensation for the local landowners. The compensation that
was decided as a result of this process has been paid by the Company. The court
hearing scheduled for 21 May 2024 is to finalise the appeals by two of the
landowners regarding the amount of compensation to be paid to them and also a
change to the mine boundary.
Finalisation of land possession for the duration of the mine is a necessary and
welcome step forward in relation to the Company's proposed development of the
Lahtojoki diamond deposit.
The Board believes that the development of a diamond mine at Lahtojoki will not
only bring significant benefits to the Company, but also to the entire
surrounding Kuopio-Kaavi area.
The diamond mine at Lahtojoki, when in production, is expected to be the first
diamond mine in Europe outside Russia .
The Lahtojoki diamond deposit, as well as containing high quality colourless gem
diamonds, also contains pink diamonds and other coloured diamonds. Such diamonds
are highly sought after and can command prices up to 20 times that of normal
colourless gem diamonds.
Professor Richard Conroy, Chairman of Karelian Diamond Resources PLC, commented:
"The setting of an official date for the hearing of the appeal by the two
landowners will bring finalisation to the establishment of a diamond mining
concession at Lahtojoki and is to be welcomed."
Further information:
Karelian Diamond Resources plc +353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) +44-20-3328-5656
Nick Athanas / Nick Harriss
Peterhouse Capital Limited (Broker) +44-20-7469-0930
Lucy Williams / Duncan Vasey
Lothbury Financial Services +44-20-3290-0707
Michael Padley
Hall Communications +353-1-660-9377
Don Hall
http://www.kareliandiamondresources.com
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Karelian Diamond Resources Plc
Karelian Diamond Resources Plc - Court hearing set for Lahtojoki
11th March 2024, 07:00
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