Diavik’s Production up 8%

(IDEX Online News) – Harry Winston Diamond Corporation reports that Diavik produced 1.9 million carats in the third calendar quarter of 2011, an 8 percent increase compared to the same period from 2010. Harry Winston holds a 40 percent stake in the Diavik diamond mine.

For the nine months ending September 30, 2011, Diavik produced 5.1 million carats from 1.7 million tonnes of ore processed.

Diavik's full-year target production remains at 6.9 million carats, Harry Winston added. Production for the fourth calendar quarter is estimated to be 1.8 million carats with production from sub-level retreat mining of A-154 South ore contributing higher-grade ore.

The Company held two smaller than usual rough diamond sales in its fiscal third quarter ending October 31, a result of a weakening rough diamond market. Therefore, the company is deferring “significant” rough diamond sale to the fourth quarter and possibly subsequent periods.