Alrosa, which accounts for 97% of Russian and 25% of global diamond output, increased spending on geological prospecting by 16.3% year-on-year in 2007 to 3.44 billion rubles ($145 million), said Sergei Vybornov, the company's president.
Vybornov said the company would concentrate 85% of its geological prospecting in 2008 on western Yakutia in East Siberia.
The company's president also said African projects were among the most promising areas for Alrosa's development amid the global diamond production slump.
"We must use any chance to increase our resource base in Africa. Control over resources means control over the market," Vybornov said.
He said the company's projects were enjoying support in Africa, and that in order to strengthen them, the company was ready to develop associated areas, in particular electric power generation, oil and gas prospecting and production, and construction.
