Diavik Produces 1.6 Million Carats in Q1 2012

The Diavik Diamond Mine

(IDEX Online News) – Harry Winston Diamond Corporation today (Tuesday) reported that in the first quarter of 2012, the Diavik mine in Canada produced 1.6 million carats, up 19 percent over the same quarter of last year due to improved grades.

The average grade was 3 carats per ton of ore compared to 2.8 carats of diamonds per ton of ore last year.

Diavik is planned to produce approximately 8.3 million carats in 2012. This estimate includes approximately 1 million carats from reprocessed plant rejects and 0.1 million carats from the implementation of an improved recovery process for smaller diamonds.

Harry Winston has a 40 percent stake in the Diavik diamond mine. Rio Tinto owns the remaining 60 percent share.