BDI Mining starts diamond commercial shipments

Canadian junior miner BDI Mining Corp is dispatching 6,523.99 carats of diamonds from its Cempaka diamond mine in South Kalimantan for tender in Antwerp of Belgium scheduled for the end of this month.

?This consignment represents a new milestone for BDI Mining, being the first commercial shipment of diamonds from its Indonesian mining operations,? the company said in statement on Wednesday.

According to the statement, the first commercial parcel includes three diamonds above 10 carats - a 16.38 carat stone, an 11.47 carat stone and a 10.74 carat stone. The diamonds will be tendered by WWW International Diamonds Limited.

WWW International is an internationally diamond consultancy and, with its partners Aboriginal Diamond Group through Diamonds International Canada (DICAN), is the independent diamond valuer to the Canadian Government.

BDI Mining said based on the last valuation of US$285.00 per carat and the continued strength in the world market for rough diamonds, the parcel is anticipated to sell for approximately US$1.8 million - more than 60 percent above the value per carat received in 2002 from the sale of diamonds recovered during bulk sampling.

?Management is now focussed on optimising the Cempaka resource and maximising diamond production while diamond prices remain high,? Managing Director and CEO of BDI Mining Lee K. Spencer commented. (Robert)