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Dominion Diamond Corporation Issues Updated Mine Plans for the Ekati and Diavik Diamond Mines

TORONTO, Feb. 3, 2014 – Dominion Diamond Corporation (TSX:DDC, NYSE:DDC) (the “Company”) is pleased to release an updated life-of-mine plan for each of the Ekati and Diavik Diamond Mines, including current estimates for anticipated annual production by pipe, with associated operating costs and capital costs.

Highlights:

  • Both mines are performing well; Diavik as an all underground mine and Ekati as a combination open pit-underground mine.
  • The operating cost forecasts in the updated Diavik mine plan demonstrate substantial savings compared with the previously published mine plan (2012), whilst mining and processing an increased amount of ore.
  • The new Ekati Mine Plan includes the first detailed production forecast based on reserves only to the Dominion Diamond fiscal year end (January 31st) with production currently forecast to run through to fiscal 2020.
  • The synergies, cost savings and efficiencies brought about by the integration of the Ekati and Diavik sales and sorting processes and resources are already demonstrating benefits.

Unless otherwise specified, all financial information is presented in Canadian dollars, on a 100% basis, and references to years are to calendar years unless otherwise stated. The Company has an 80% interest in the Ekati Diamond Mine as well as a 58.8% interest in the surrounding areas, and a 40% interest in the Diavik Diamond Mine.

About Dominion Diamond Corporation

Dominion Diamond Corporation is a Canadian diamond mining company with ownership interests in two of the world’s highest rock value diamond mines. Both mines are located in the low political risk environment of the Northwest Territories of Canada. The Company is the fourth largest diamond producer by value globally and the largest diamond mining company by market capitalization, listed on the Toronto and New York Stock Exchanges.

The Company operates the Ekati Diamond Mine through its 80% ownership as well as a 58.8% ownership in the surrounding areas containing additional resources. It also sells diamonds from its 40% ownership in the Diavik Diamond Mine.
For more information, please visit www.ddcorp.ca

Read more: http://www.ddcorp.ca/investors/news-single?id=1896393

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