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Gold/Mining/Energy : Canabrava Diamond

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To: 1st.mate who wrote (2315)11/28/2001 5:37:58 PM
From: Flea   of 2402
 
Not sure if I've seen these posted anywhere...

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• Tuesday, 27 November, 2001

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De Beers moves another step closer to developing diamond mine on coast
An open pit diamond mine could be a reality up the James Bay coast in 18-24 months.

De Beers Canada announced Monday its intention to undertake a mining pre-feasibility study at
its Victor Project near the Attawapiskat River in the James Bay Lowlands where diamonds were
found last summer.

De Beers officials were in Attawapiskat Monday to discuss with the community the results of a
desktop study undertaken by De Beers' mining team with input from consultants Bechtel Canada
and AMEC.

The study identified technical issues that would be encountered should the project move forward
into an open pit mine.

"The desktop study provides us with good information for project planning, specifically areas
such as water management which need more work," said Jocelyn Fraser, senior advisor, public
affairs for De Beers Canada. "Ground water disposal will have to be further studied. As the pit
size increases, the amount of water draining in will increase.

"We have to make sure a process is in place to clear away the ground water."

Fraser said the study also identified the need for more detailed geophysical and delineation work
reduce the uncertainties of the resource and its surroundings.

The pre-feasibility study will last about 12 months. Should the hurdles of the project be cleared,
a feasibility study is planned which could last six to 12 months at which point the open pit mine
could open.

The project has already created about 60 jobs in Attawapiskat and several hundred more will be
created if the project moves forward.

De Beers is continuing with an advanced exploration campaign. It will be centred on the Victor
kimberlite, the largest of 18 kimberlites found 90 kilometres west of the village of
Attawapiskat.

Monday's announcement moves Ontario closer to its first diamond mine and Canada's third.

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Diamond mine may open by 2007
The earliest an open pit diamond mine up the James Bay coast could be operational is 2007.

De Beers Canada announced Monday its intention to undertake a mining pre-feasibility study at
its Victor Project near the Attawapiskat River in the James Bay Lowlands where diamonds were
found last summer.

The study will address technical issues that would be encountered should the project move
forward into an open pit mine on the Victor kimberlite, the largest of 18 kimberlites found 90
kilometres west of the village of Attawapiskat.

These issues include ground water disposal.

The pre-feasibility study will last about 12 months. Should the issues be cleared, a feasibility
study is planned which could last 12-18 months at which point the project could move forward.

It could take De Beers 12-18 months to secure the proper permits for the site. Site preparation
could take 12 months and mine construction could take 18-24 months.
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