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Arkhangelsk |
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ArkhangelskPort in the north of the Russian Federation, capital of Archangelsk oblast; population (2002) 356,100. Situated on the Northern Dvina River, it is Russia's chief timber-exporting port, and the centre of a rapidly growing mineral extraction industry (oil drilling and diamond mining). Formerly blocked by ice for half the year, it has been kept open constantly since 1979 by icebreakers. Archangel was made an open port by Boris Godunov and was of vital significance for trade until Peter the Great built St Petersburg. The city was founded in 1584, after the establishment of Anglo-Muscovite trade, as Novokholmogory; it was named Arkhangelsk in 1613. It was the embarkation point for the Allied interventionist armies in collaboration with the White Army in their effort to overthrow the newly established Soviet state 1918–20. In World War II, together with Murmansk, Archangel was the destination for Allied convoys bringing essential military supplies to the USSR. Pomor State University in Archangel is the largest institution of higher education in northern Russia. It was founded as a teacher training institute in 1932 and became Pomor State University in 1996.
Arkhangelsk
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| The long dispute over the Company's contractual right to, or proprietary interest in, the Verkhotina Area and the Grib diamond deposit located in the Arkhangel'sk region of Russia together with market conditions, generally required the Directors of the Company to act quickly to replenish the working capital of the Company and allow the Company to continue operations beyond the end of this year. With respect to the ongoing license transfer dispute, the Corporation has been advised that the Arbitrazh Court of Arkhangel'sk ruled on Monday, October 21, that the 1994 Memorandum between the Corporation and AGD is unconcluded. Archangel Diamond Corporation is an international diamond exploration company that holds the right to earn a 40% interest in all profits from the mining of diamonds from the 400 square kilometer Verkhotina Area in the Oblast of Arkhangel'sk in northwestern Russia. |
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