The Malyshevskoye deposit, known for the Krasnobolotnoye mine (Red Swamp mines) which still produce fine quality Russian alexandrite to this day, but due to lack of financing and danger posed to the near by underground gas piping system, in 2000 the mine was flooded and closed by the Ministry of Natural Resources of the Russian Federation. In the same year, an alexandrite weighing over 500 grams was found in the deposit's warehouse amongst stored ore. Small gem quality alexandrite crystals occasionally appear on the Russian black-market as a result of illegal mining by locals.
Malyshevskoye emerald-beryllium deposit is one of the largest in the world, with proved reserves estimated at $1 billion. The deposit had been exploited since 1832 and was suspended in the 1990s. Apart from the mine itself, gemstones illegally extracted from industrial waste discharges, accumulated over the time of its exploitation with an estimated 9 metric tons of emeralds. The Krasnobolotnoye mine was discovered in 1839 and became the centre of secret mining of emeralds and alexandrite by locals. The deposit was worked out systematically to a depth of 20 meters and known for its beautiful alexandrite.