June 1999



Production at the Argyle diamond mine in Australia is expected to fall almost 20% to 33 million carats this year, according to the minority owner. The decline will be due mostly to temporary construction work involved in expanding the AK1 open-pit mine, says Douglas Bailey, chief executive of Ashton Mining Ltd., which owns 38% of Argyle. (The majority owner is RTZ, also known as Rio Tinto Ltd.). The owners have marketed Argyle diamonds on their own since breaking from the De Beers network in 1996.

Copyright © 1999 by Bond Communications.


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