Miner BHP Diamond reports 13% production rise 1H FY 2009
Post Date: 21 Jan 2010 Viewed: 534
Diamond company BHP Billiton reported seeing a 13% rise in diamond production in the first half of the fiscal year ending December 31, 2009, coming to 1.54 million carats. According to Diamond Net, BHP's results were led by rough diamond production at the Ekati Mine in Canada, which added 28% to 760,000 carats during the second fiscal quarter.
A company statement quoted in the report also attributed the growth in diamond production to an increase in ore processed at Ekati's Koala underground mine, which contains a larger proportion of higher value carats.
The statement added that BHP Billiton experienced a strong price recovery during the second fiscal quarter, prompted by increased demand for diamonds in China. Nevertheless, the diamond miner said it expects some degree of volatility in the short term outlook for its commodities.