BHP Billiton sees diamond production dip
Wednesday, October 20th, 2010
BHP Billiton has posted figures showing a drop in diamond production, citing the switch to a different mine as the reason for the fall.
Diamond production by mining giant BHP Billiton fell ten per cent year-on-year in the three months to the end of September, new figures from the firm have revealed.
In its latest quarterly production report, the company said 703,000 carats of the precious stones were produced over the period.
This was also a five per cent dip when compared to statistics from the previous quarter, with the company citing "lower ore proceeded and lower average grade" as reasons for the slide.
BHP, which is based in London and Melbourne and has operations in over 25 countries worldwide, said a "higher proportion" of diamond ore was sourced from its Fox pit in Ekati, Canada during the period as a result of operations at the Panda asset – which yielded a higher grade – ceasing in the previous quarter.
It also published production statistics for a number of other natural resources and said in a statement it "remains positive on the prospects for many of its core commodities and the underlying performance of its business", in spite of the "ongoing uncertainty" in developed economies.
