Canadian diamond mine opening in a shaky market

Article Abstract:

Australian resource company Broken Hill Proprietary Company Ltd. will officially open the Ekati diamond mine on Oct. 14, 1998, amid an unsteady global diamond market, with partner Dia Met Minerals Ltd. The $700-million Ekati property, Canada's first commercial diamond mine, will come on stream just seven years after it was located in distant area some 360 kilometers northeast of Yellowknife in the Northwest Territories. But rather than acknowledge the efforts of the people responsible for bringing the mine into operation, analysts are more worried how an already saturated diamond market absorb production from such a huge mine.

Comment:

Will officially open Ekati diamond mine on 10/4/98 amid unsteady global mkt, with partner Dia Met Minerals Ltd

Natural resources, Industrial Diamonds, BHP Billiton Ltd., Article

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Rio Tinto unit to supply NWT firms: deal would enable local companies to buy rough diamonds from proposed mine

Article Abstract:

UK-based Rio Tinto PLC subsidiary Diavik Diamonds Inc and Aber Resources Ltd of Vancouver, Canada, are negotiating with the Northwest Territories government for an agreement to supply local companies with rough diamonds from a proposed mine. The agreement calls for Diavik to begin production at the $875 million mine in 2002, with an annual output of eight million carats that account for 6% of global production.

Strategic alliances, Gem Diamonds, Diamond industry, Diamonds, Diavik Diamonds Inc.

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