Dominion Now Expects More Diamonds From Diavik

Dominion Diamond Corporation said in a revised forecast for calendar year 2013 that it predicts an 11% rise in production from the Diavik diamond mine. The firm said that it forecasts approximately output of 6.6 million carats from the mining of approximately 1.6 million tons of ore and the processing of approximately 2.0 million tons of material from both mining and stockpiles. Last month the diamond company said that it believed it would extract juts 6 million carats from 1.6 million tons of ore. The rise from the previously disclosed plan relates primarily to the processing of more stockpiled ore during the calendar year.

For the period from April 10, 2013, when Dominion completed the purchase of the Ekati diamond mine from BHP Billiton, to the end of 2013, plans are to excavate approximately 1.0 million carats from the mining of approximately 3.5 million tons from mineral reserve, and the processing of approximately 3.9 million tons. The additional material will be made up of diamond bearing kimberlite from a satellite body in the Misery open pit that is excavated as part of the waste stripping as the pit profile is advanced.

Rough diamond sales for fiscal 2014, based on current rough diamond prices, are expected to total approximately $730 million, with $365 million coming each from the 40% share of Diavik and the 80% share of Ekati.

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