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Diavik's 1Q Production Nears 2M Carats
Apr 17, 2014 1:18 AM
By Deena Taylor
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RAPAPORT... Dominion Diamond Corporation reported that its share of production at Canada's Diavik mine dropped 4 percent to 746,000 carats in the first quarter that ended on March 31. The company, which owns a 40 percent stake in the mine, attributed the lower amount of carats produced to mining and processing a a larger amount of lower-grade ore from the A-154 North pipe during the period.
Diavik is operated by Dominion in partnership with Rio Tinto. On a 100 percent basis, Diavik produced 1.9 million carats from 600,000 tonnes of ore during the quarter compared with 1.9 million carats produced from 500,000 tonnes one year ago.
Dominion noted that processing volume rose 17 percent year on year during the quarter as a result of continued improvement in mining rates, as Diavik underground progressed to full production at the A-154 South, A-154 North and A-418 kimberlite pipes.
Dominion's portion of production at A-154 South fell 52 percent to 135,000 carats, while at A-154 North production rose 40 percent to 227,000 carats. At A-418, production increased 8 percent to 315,000 carats.
The price of rough diamonds sold during the period varied from an average of $145 per carat from A-145 North to $190 per carat for A-154 North production and $105 per carat for diamonds from A-418.
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Tags:
Deena Taylor, diamonds, Diavik, Dominion Diamond Corporation
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