Industry News by Nemesis

Dominion Slashes Diamond Reserves at Diavik Due to Production and Sampling

March 11, 2016

Dominion Diamond Corporation reported that proven and probable diamond reserves at the Diavik Diamond Mine in Canada declined by 500 000 carats on an annual basis, to 52.8 million carats at the end of last year.

 

The mineral reserves decline accounts for all depletions due to production and sampling to December 31, 2015, and include forecasted mining losses and dilution.

 

The biggest proportion of the reserves were in underground mines, which had proven and probable reserves of 42.6 million carats, while open-pit mines contributed 10 million carats, according to a statement March 8, which states reserves on a 100-percent basis. 

 

Meanwhile, the company conducted sampling at certain active mining areas. 3 new samples were taken at A-154 South, 16 new samples at A-418 and 4 new samples - at A-154 North.

 

Dominion owns 40 percent of the Diavik mine in Canada’s Northwest Territories, with Rio Tinto holding the rest. Dominion also owns 88.9 percent of the Ekati Diamond Mine in the same region.
 

Source: Rough&Polished

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