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    Rio Tinto Okays Development of A-21 Pipe at Diavik Mine

    Charlotte McLeod
    Nov. 27, 2014 09:08AM PST
    Diamond Investing

    Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced that Rio Tinto plc (ASX:RIO,NYSE:RIO,LSE:RIO) has okayed the development of the A-21 pipe at the Diavik diamond mine.

    Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced that Rio Tinto plc (ASX:RIO,NYSE:RIO,LSE:RIO) has okayed the development of the A-21 pipe at the Diavik diamond mine.

    Dominion holds a 40-percent stake in the mine, while a subsidiary of Rio Tinto operates it.

    As quoted in the press release:

    DDMI has estimated the total capital cost for the development of the A-21 pipe to be approximately US$350 million at the Company’s estimated Canadian/US dollar exchange rate of $1.11 (on a 100% basis), with the Company’s share being US$140 million. The A-21 resource is well understood, and A-21 diamond production is planned for late calendar 2018. The A-21 production will provide an important source of incremental supply for Diavik, ensuring the continuation of existing production levels.

     Click here to read the full Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) press release.

    asx:riolse:rionyse:riotsx:ddcdiavik diamond mine
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