Finlay Minerals reports 2024 field work on its PIL property in British Columbia
Cascadia has met the year three exploration work requirements and the PIL option agreement remains in good standing.
IDEX News reports BHP Billiton’s Ekati diamond mine produced 481,000 carats in the last quarter of 2011, a 29% drop compared to a year ago, but an increase from September’s 457,000.
BHP owns 80% of the Ekati diamond mine in Canada’s Northwest Territories. The other 20% is owned by geologists Chuck Fipke and Stewart Blusson (each has a 10% stake), who discovered the kimberlite pipes north of Lac de Gras in 1991.
IDEX reports:
Production at Ekati is expected to remain “constrained” in the medium term BHP Billiton reported in a quarterly operations review, as the operations extract lower grade ore.
Ekati accounts for approximately 10% of global rough diamond supply according to IDEX and is located 300 km northeast of Yellowknife and 200 km south of the Arctic Circle.
BHP Billiton (NYSE:BHP) said in November it is reviewing its diamond business for a potential sale of all or parts of the business.
Investment bank Investec said last week that Ekati, in which BHP owns 80%, is worth between $300 million and $500 million because of its limited remaining life and declining earnings. Ekati, which also has silver deposits, could be mined out by 2018.
