Aber Forecasts 8.5 Million Carats, Despite Early Winter Road Closure

Aber Diamond Corporation, 40 percent owner of the Diavik diamond mine, says it retains its earlier production forecast of 8.5 million carats for the coming year. To meet this target, heavier components of a large excavation shovel need to be delivered.

The components were planed to be transported via the winte road, however it was closed earlier then planned due to unseasonably warm temperatures. The company says alternative methods of transport for these components and other bulk supplies are available and are being evaluated.

Aber also reports that owing to reduced fuel consumption due to the mild winter, it expects  to have sufficient fuel to support the project until the next winter road opens.

Production from current reserves is expected to exceed 10 million carats in calendar year 2007, with production coming solely from the higher-grade A-154 South pipe. The increase in Aber’s share of the Diavik Mine capital expenditures for calendar years 2006 to 2010 is estimated to be less than 4 percent and the impact to Aber’s share of operating and exploration costs for calendar 2006 is an estimated increase of 5 percent.