Aber's share in diamond production rises 9%

19 Jan '06
2 min read

Leading diamond-marketing company Aber Diamond Corporation confirmed that total of 7.74 million carats of diamonds were delivered to the owners by the Diavik Diamond Mine during the calendar year 2005.

The quantity of diamonds produced during the same period was 8.27 million carats.

Although the diamond production is slightly below the mine plan estimate of 8.5 million carats the quantity delivered was in accordance with the mine plan.

Aber's 40 percent share of diamonds produced was 3.31 million carats for the year, 9 percent greater than the prior year, with 0.73 million carats being produced in the last calendar quarter of 2005.

The average recovered grade of ore processed during the year was 3.72 carats per tonne.

Chairman and Chief Executive Robert Gannicott said, "They are pleased with the continued growth in production at Diavik as work proceeds to open more working faces to dependably deliver ore to the expanded processing capacity.

They are also optimistic that improvements to both mining and processing methods may improve the liberation and recovery of enhanced diamond value".

The results for the full fiscal year ending January 31st 2006, as well as the fourth quarter, are expected to be released during the week of March 13th 2006.

These will be accompanied by a conference call and webcast.

Aber Diamond Corporation is a specialist diamond company focusing on the mining and retail segments of the diamond industry.

The Company supplies rough diamonds to the global market through its 40 percent ownership in the Diavik Diamond Mine, located off Lac de Gras in Canada's Northwest Territories.

Aber also holds a 53 percent interest in Harry Winston Inc, the premier retailer of diamond jewelry.

Aber Diamond Corporation

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