Dia Met Minerals (DMM-T) and BHP Diamonds have announced plans to construct a diamond sorting and valuation facility at the Yellowknife airport in the Northwest Territories.
The facility will be used for training and basic sorting, as well as separation of mine production for various marketing channels and for government valuation. The partners chose Yellowknife because of its proximity to their Ekati diamond mine, now being developed, as well as its established transportation links. The airport was chosen for transportation and security considerations.
“We are pleased with this arrangement, because it will serve to support the realization of value-added activities in the Northwest Territories, while maintaining appropriate roles for government and the private sector,” says Jim Rothwell, president of BHP Diamonds. “Establishing a sorting and valuation facility in the North is the key step that provides the opportunity for other value-added activities to be pursued over time if they are sustainable, and as required expertise is developed.”
BHP and Dia Met will sell rough diamonds to qualified Northwest Territories manufacturers for cutting and polishing. The prices, terms and conditions will be the same as BHP’s other marketing programs. The government of the Northwest Territories will be responsible for support and assistance to attract and retain manufacturers.
In return for the Ekati partners’ commitment to keeping value-added activities in the Yellowknife area, the territorial government has agreed not to impose any new demands or taxes on the Ekati diamond mine.
Construction of the Ekati diamond mine is about 85% complete. Ownership is split among Broken Hill Proprietary (BHP-N) unit BHP Diamonds (51%), Dia Met Minerals (29%), Dia Met founder Charles Fipke (10%) and Fipke’s former prospecting partner, Stewart Blusson (10%).
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