Diavik's Q2 Production 1.79M Carats, Prices Rise ~8% in a Month
July 14, 11
(IDEX Online News) – Diavik produced 1.79 million carats in the second quarter of 2011, 11% more than it produced in the same period of 2010, Harry Winston Diamond reports.
The production figure is the mine's full production. Harry Winston has a 40% share of this, or 716,000 carats, the rest is Rio Tinto's.
For the first half of the year, Diavik produced 3.14 million carats from a million tonnes of ore processed.
Diavik's full-year target production remains at 6.9 million carats. Production in the second half of the year is forecast to be higher than the first half of the year as sub-level retreat mining of A-154 South ore, started in early July, will contribute higher grade ore.
The sub-level retreat underground mining method is a lower cost and higher velocity underground mining method than the previously planned combination of underhand cut & fill and blast-hole stoping.
Harry Winston Diamond will hold three rough diamond sales in its fiscal second quarter ending July 31.
Sales in May and June continue to show price increases. The majority of the diamonds sold so far during the quarter were from the A-418 B type ore, which fetched $110 p/c in June, increasing 4.8% from May.
Goods from the other three ores averaged $165-$230 p/c, their prices rising 7%-10% in a single month.