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BHP Billiton's Diamond Production -35% in 1Q

Oct 23, 2011 3:46 AM   By Avi Krawitz
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RAPAPORT... BHP Billiton reported that diamond production fell 35 percent year on year to 457,000 carats during the first fiscal quarter that ended on September 30, 2011.

''Production was lower than all comparable periods due to the ongoing decline in average ore grades and unseasonably high rainfall that impacted operations,'' the company explained.

BHP Billiton noted that production at the Ekati mine in Canada, its only diamond producing asset, is expected to be impacted in the medium term as operations transition to lower-grade material, consistent with the mine plan.

During the first nine months of the calendar year, BHP Billiton’s production fell 28 percent to 1.584 million carats.

Tags: Avi Krawitz, BHP Billiton, diamonds, ekati, Rough Diamonds
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