BDI Mining commissions Kalimantan diamond mine
Friday, October 8 2004 - 01:32 AM WIB
Canadian junior miner BDI Mining Corp. announced on Thursday that commissioning of the Cempaka gem diamond mine in South Kalimantan, Indonesia is progressing smoothly with processing of diamondiferous gravels now commencing.
The company said that a small quantity of diamondiferous gravels excavated last week during construction of a drainage sump were incorporated into the non-diamondiferous commissioning material and returned so far 26 gem diamonds totaling 17.56 carats in weight, including a 3.09 carat stone, a 1.70 carat stone, a 1.44 carat stone and a 1.24 carat stone, with associated gold.
?Directors expect Cempaka to achieve Stage 1 commercial production by the end of December, and generate free cashflow in excess of US$3 million during 2005. The mine is estimated to have a plus 10-year mine life from alluvial resources containing in excess of 700,000 carats of gem diamonds,? the company said in a statement.(alex)