Diavik Online – Ahead of Schedule

Mining at Diavik, Canada’s second diamond mine, started during the last week of November and its first diamonds have been recovered, reveals Aber in its quarterly report. Work is two months ahead of schedule.

The diamonds were mined from the A-154 South kimberlite pipe on an intermittent commissioning basis, the company said, and sent to Yellowknife for cleaning and removal of non-diamond particles.

The construction project is expected to be close to completion by the end of this month and full mining is planned to begin in February 2003.

Aber plans to sell in Antwerp most of the diamonds mined at Diavik. $50 million worth of the production will be sold annually to upscale jeweler Tiffany & Co. Tiffany has a 10-year contract to buy rough diamonds from Aber's production. A portion of the diamonds will be sold directly to Canadian jewelers.