Striker Starts Production at Merlin Mine

Australia's Striker Resources said that production has begun at its Merlin mine and it is on track to become Australia's third diamond producer.

The company said that due to the strong increases in rough diamonds in the past two years, it forecasts its run-of-mill diamonds will achieve a price of $140 per carat.

Striker expects to produce at least 70,000 carats from the mine over the next 12 months and at least 250,000 carats in the next two years with an inferred and indicated resource of 3.3 million carats at the Merlin mine.