Diavik nears milestone

Construction of the $1.2-billion Diavik diamond mine in the Northerwest Territories is “virtually complete,” report partners Aber Diamond (ABZ-T) and Rio Tinto (RTP-N).

The first diamonds are expected to be delivered by the end of January. They will be forwarded to the Diavik production-splitting plant in Yellowknife for cleaning and preparation for valuation for royalty purposes.

A limited quantity of the diamonds recovered in December 2002 underwent valuation for government of Canada royalty purposes and will be forwarded to the partners by the end of January.

Overburden continues to be removed from the Diavik A154 open pit, and operators have begun processing and recovering low-grade mineralization from con- tact zones at the top of the A154 South orebody.

Operating rates have been increased, to handle the higher quantities of feed available.

Diavik is an unincorporated joint venture between Rio Tinto subsidiary Diavik Diamond Mines, which has a 60% interest in the mine, and Aber, which has 40%.

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