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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Letmebe Frank who wrote (2247)	1/10/2005 12:49:36 PM
From: Famularo	Respond to of 16206

The Snap Lake diamond mine project in Canada’s Northwest Territories will cost almost $600 million due to an increase in fuel and steel prices and a shortage of construction workers, CBC news reported on January 4. De Beers Canada recently released the revised figure for the mine, located 220 kilometers northeast of Yellowknife. It is scheduled to begin production in mid-2007. "We've seen about a 25% to 30% increase in costs, primarily related to commodity prices – fuel, steel, cement," said John McConnell, the company's vice-president for Northwest Territories projects.