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Gold/Mining/Energy : ABER RESOURCES
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To: George J. Tromp who started this subject7/18/2003 9:24:54 PM
From: The Vet  Read Replies (1) of 2006
 
Diamonds are good and getting better according to this report. Also note the Diavik projections here. This stated number of $550 million US a year is well above the planning forecasts from Aber and Diavik themselves of just over $300 million a year.

In the meantime DTC sales should remain at around the high level of 2002 when they exceeded US$5 billion and there is no expectation if a boost to supplies apart from the Diavik kimberlite mine in Canada. To be sure, there are some small increases ahead (eg in Angola) but nothing remotely of the scope of Diavik which should be some US$550 million a year, or more, at full output. Big kimberlites can take five to ten years to bring into production,depending on infrastructure, mining laws and other considerations in the host countries. For example, Ekati took seven years from point of commercial discovery to production and Diavik nine years.

and it is likely to get better...

Conclusion
In our view the shortfall in ongoing supplies of rough can only be met by further price rises as stocks in the hands of the two main producers decline to working levels only, and as economies and stockmarkets gradually gain more confidence. The medium to long term outlook for rough diamond prices is therefore very good.

minesite.com
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