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October 4, 2009

De Beers Mulls to Increase Canada Mine Output

Diamond company De Beers says it is thinking of ramping up production in 2010 at its Snap Lake mine in the Northwest Territories of Canada. A final decision will be made this November into how De Beers’ Snap Lake production plan will look for next year. Improving market condit

By cms admin

Diamond company De Beers says it is thinking of ramping up production in 2010 at its Snap Lake mine in the Northwest Territories of Canada.

A final decision will be made this November into how De Beers’ Snap Lake production plan will look for next year.

Improving market conditions have led the company to cancel its planned winter shutdown but the mine is operating at only about half capacity.

In late 2008 and February 2009, De Beers’ cut employee and contractor jobs at Snap Lake and reduced output following a plummet in rough diamond demand in the fourth quarter of 2008.

De Beers says it needs to coordinate its planning well in advance to ensure extra supplies and fuel can be secured for the mine located in Canada’s remote Arctic region, the company said.

Mining group Anglo American has a 45% stake in De Beers, which also owns and operates the Victor mine in Ontario.

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