Harry Winston Diamond Corporation announces Diavik Diamond Mine cancels
winter production shutdown
Earlier this year, Diavik had announced a series of actions in response to changes in market conditions, including plans for a summer and winter production shutdown. The summer shutdown was safely and successfully concluded on
Robert Gannicott, Chairman and Chief Executive Officer of
During the summer production shutdown Diavik remained in compliance with all permits and licences. Mining and processing of ore ceased but other work, including environmental monitoring, raising of the embankment around the processed kimberlite containment area, and planned equipment maintenance occurred. Approximately 600 workers were affected but were able to use accumulated leave entitlements or access salary averaging.
The Diavik Diamond Mine, currently an open pit mine, is planning to commence underground production in early 2010. By 2012, Diavik expects open pit mining will cease at which time Diavik will become an all underground mine.
About
The Company's retail division is a premier diamond jeweler and luxury timepiece retailer with salons in key locations, including New York,
The Company focuses on the two most profitable segments of the diamond industry, mining and retail, in which its expertise creates shareholder value. This unique business model provides key competitive advantages; rough diamond sales and polished diamond purchases provide market intelligence that enhances the Company's overall performance.
For investor information, visit http://investor.harrywinston.com or call Investor Relations on (416) 362-2237 ext 290
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For further information: please visit www.harrywinston.com
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