BHP Diamond Revenues +12%
August 24, 11
(IDEX Online News) – BHP Billiton, owner of the Ekati diamond mine, reported revenues of $1.01 billion from diamond sales in the fiscal ear ending June 30, 2011, a 12.1 percent increase from the previous year.
The rise in revenues comes against a drop in production, falling 17.8 percent to 2.51 million carats.
BHP Billiton expects lower average ore grades to impact Ekati's production in the medium term, the company said in a release announcing annual results.
Underlying EBIT for diamonds increased by 15.5 percent to $537 million as strong demand for rough diamonds resulted in higher prices.
BHP Billiton Group revenues of $71.74 billion are a 35.9 percent increase over the previous fiscal year.
 Winter at Ekati in Canada's north |