BDI's Cempaka diamonds valued at $266 per carat

London Stock Exchange-listed miner BDI Mining Corp. reported Wednesday that it has received an independent valuation of US$266 per carat for the first parcel of diamonds recovered from initial Phase II mining at the Cempaka Diamond Mine in South Kalimantan.

The run-of-mine parcel of 702 carats was recovered from initial mining and plant commissioning of the first open pit in the main Cempaka channel. Phase II of operations at Cempaka have commenced and will target production of 100,000 carats per year.

Managing Director and CEO of BDI Mining Corp, Lee K. Spencer commented, "We are very pleased and highly encouraged with the valuation of the first stones from the main Cempaka channel which so far have had a higher average stone size and better stone quality than Danau Seran. And with a grade consistent with our projections, we are hopeful that the high valuation will impact significantly on revenues from Phase II of operations".

BDI Mining Corp is an Asia-Pacific focused mining and exploration Company whose primary assets are the Cempaka alluvial diamond mine in Indonesia, and the 100%-owned, advanced Woodlark Island gold project in Papua New Guinea.(alex)