BHPB Diamond Production Jumps Dramatically

BHP Billiton reports today that diamond production at its 80 percent-owned Ekati mine has increased by nearly 19 percent during the year. The company mined 4.34 million carats during the period compared to 3.65 million carats last year.

On the other hand, gold production by the group suffered during the past year, dropping 28 percent to 207,882 ounces. Gold production during the past quarter reached 25,752 ounces, down a whopping 64 percent from the 72,032 ounces produced during the same quarter last year.

BHP Billiton is continuing to pursue opportunities in diamond mining using both the Junior Alliance Program and in house generative capabilities. Along this line of strategy, the miner purchased Hunter Exploration Group’s minority 20 percent and 14 percent participating interests in the Aviat and Churchill Diamond Joint Ventures in Canada.

At the end of June 2003, BHP Billiton entered into an agreement with Diamond Mines Australia, a subsidiary of Gravity Capital, to explore for diamondiferous Kimberlite pipes in Australia using the Falcon airborne gravity technology.

The three BHP Billiton Falcon platforms were active in flying projects for both BHP Billiton and its partner companies in Australia, South America and Africa.