DDMI Submits Diavik Socio-Economic Report

Diavik Diamond Mines Inc. (DDMI), operator of the Diavik mine in Canada, has completed and submitted to the Diavik Communities Advisory Board its annual report according to the Diavik Socio-Economic Monitoring Agreement, reporting on training, employment, and business spending during the mine's first year of operations.

By year-end the mine provided extensive training including 15 apprentices employed through DDMI and its contractors and 42 Northerners participated in community-based training courses.

The mine also provided 611 person years of employment during 2003, its first year of operation, with Northern residents providing 73 percent of employment, and Aboriginal residents providing the remainder 36 percent.

During the year DDMI spent nearly $252 million for operations and capital. Of this, 80 percent or $202 million was with northern business.

Of the $78 million DDMI spent on capital, $70 million was with northern businesses and of the $174 million spent on operations, $133 million was with northern firms.

The Diavik Communities Advisory Board members include representatives of Dogrib communities, Akaitcho Dene communities, the Inuit community of Kugluktuk, the North Slave Metis Alliance, and the Government of the Northwest Territories.