Irish diamond explorer wins new licences in Finland

Irish diamond explorer Karelian Diamond Resources has been granted licences to explore three additional locations in Finland near to its existing operations.

The reservations which Karelian has been approved to explore are located in what's known as the Karelian Craton, which stretches across north eastern Russia and northern Finland.

The company, led by Richard Conroy, said it decided to apply for the licences after reviewing past exploration data for the reservations. One of the licences is nearby to a diamond deposit over which Karelian holds a mining concession and "where it is moving towards the potential development of a diamond mine".

Mr Conroy said the granting of the licences is a “key step forward” for the company, “and we consider this to be extremely important”.

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Karelian also updated shareholders on the effect the Covid-19 pandemic is having on the company. It noted that the pandemic is restricting field and lab work in Finland.