Karelian Diamond Resources plc is engaged in the exploration and development of diamond deposits, primarily in Finland and Ireland. The company holds ownership of the Lahtojoki diamond deposit, which is known to contain valuable pink diamonds. Karelian Diamonds conducts exploration programs to identify kimberlite targets, which are geological formations that may contain diamonds, and has identified multiple targets in the Kuhmo area of Finland. Additionally, the company explores for other minerals, including nickel and copper, in Ireland.