The huge Argyle diamond mine in Western Australia is getting bigger.
Argyle joint-venture partners Rio Tinto (RTP-N), Ashton Mining and the Western Australia Diamond Trust, have approved the development of the AK-1 open pit in order to access deeper mineralization.
The project, which is under way, entails pre-stripping of about 100 million tons of waste material to access an additional 17.6 million tons of ore which has an average grade of 2.58 carats per ton. The added material boosts open-pit reserves as of June 30, 1998 to 64 million tons at the same grade.
According to a release from Rio Tinto, the decision to expand follows extensive studies concerning the long-term life of the operation, reflects the joint-venture partners’ expectations that further extensions are likely and was made possible by improved operating efficiencies and reduced costs.
The timing and cost estimates for this second stage of development at Argyle is expected to be complete during the latter half of 1998. Plans do not rule out further underground development once the open-pit potential has been exhausted.
Argyle is one of the largest producers of industrial-grade diamonds in the world. During 1997, the mine cranked out 24 million carats, down from 25.1 million carats in 1996, from a lamprophyric host rock.
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