Diamond Production at Canadian Mines Is Noticeable
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Diamond Production at Canadian Mines Improves Diamond Sales

1990: Diamond Production at Canadian Mines Secures Diamond Sales

February 1999

The sales results from the October/November production sold at $124 per carat for a total of $8.5 million for 68,500 carats. Naturally, both Broken Hill Pty. (BHP) Diamonds, Inc. (51% holder) and Dia Met Minerals Ltd. (29% holder) were pleased with the results although representatives of Dia Met and BHP would not comment on the sizes of the gems sold or when the larger stones – 10.8 carats and up – would be marketed.

Production at the mine continues and December’s total was 169,892 carats. It is hoped that the full production per-month capacity of 250,000 carats will be reached by March, 1999 and expected that, by 2002 the Canadian mines, including Ekati, will be responsible for 10% or more of the world’s production. The mine is actually clearing revenue in this first year of its operation.

Although marketing through De Beers CSO has been considered, the selling remains – at least for the present – under the auspices of the company’s sales office in Antwerp. Whether De Beers will make a strong bid for control of at least a portion of the Canadian production remains to be seen.


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