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Canadian Diamond Production vs. Angola Diamond Production

1990: Canadian Diamond Production and Sales Ascribe Less Value

November 1997

A final bulk sampling by Aber Resources consisting of 8,275 carats from its Diavik project in Canada’s Northwest Territories was valued at an average price of $56 per carat by eight Antwerp diamantaires, indicating the relative smaller sizes of the stones found. The sampling was taken from the kimberlite pipe designated as A-418.

In June, a 4,200 carat sampling taken from the same pipe yielded a valuation of $60 per carat. Diamonds from other pipes on the site were described by Aber as being "too small to ascribe a meaningful value." Aber has found a total of 50 kimberlite pipes on the Diavik property of which 20 are diamondiferous. The property borders on a BHP site.

Aber Resources is widely considered the next in line for a viable Canadian diamond mine following the BHP-Dia Met site scheduled to open next year.

Meanwhile, in what it termed a "mini-bulk sampling" of 27.42 tons at its Buffalo Hills site, Ashton Mining announced early diamond results though acknowledging that the sample was too small "to make any definitive comment on quality at the site."

In the announcement Ashton reported that the five largest stones recovered weigh 0.60, 0.30, 0.28, 0.21, and 0.18 carats each.

By contrast, the Angola production points to the larger stones. In its latest offering of diamonds from the Luo fluvial (river bed) mining operation in Angola, SouthernEra Resources Ltd. announced its sale of a total of 2,967 carats for $1,984,714, or an average of $669 per carat. SouthernEra reported that the highest average price for an individual parcel was for 14 diamonds in the 10-15 carat category which were sold for $2,459 per carat.


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