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Diavik Records a Milestone in Underground Transition

May 3, 2012 5:10 AM   By Deena Taylor
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RAPAPORT... The Diavik diamond mine in Canada achieved a milestone in its transition to underground mining on April 23, 2012 by having processed  one million tonnes of ore. Underground production commenced in early 2010 in conjunction with open-pit mining, and the transition to a full underground operation will be completed this year, which will extend production past 2020.

Diavik's president, Niels Kristensen, said, ''These are exciting times at Diavik and this is an accomplishment shared by our workforce and partners. Most importantly, we can celebrate reaching this milestone in a manner that has always put safety first.''

Rio Tinto holds a 60 percent stake in Diavik and Harry Winston owns a 40 percent share, both of which funded $800 million to transition the mine underground.

Kristensen noted that Diavik diamonds are ''amongst the best white gems'' produced in the world now, and that demand for rough is strong from both established and emerging markets.
Tags: Deena Taylor, Diavik, Harry Winston, Rio Tinto
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