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Duas Barras

 
Property Location Deposit Type Interest Status
Duas Barras Brazil Alluvial Deposit 100% Brazil’s newest diamond mine commenced commercial production in September 2007.

Duas Barras Diamond Mine

Vaaldiam holds 100% interest in the Duas Barras diamond property, situated 150 kilometres north of the historic town of Diamantina in the State of Minas Gerais, Brazil. This diamond district was the world’s largest diamond producing area prior to 1870. The 171 hectare Duas Barras property encompasses a 5 kilometre portion of the Jequitinhonha River. The diamonds produced from alluvial gravels along the Jequitinhonha River are predominantly gem-quality cuttable goods.  

Vaaldiam is preparing to restart diamond production at the Duas Barras mine  with production expected in the third quarter of 2010. The mine contains National Instrument 43-101 compliant indicated resources of 1,530,800 cubic metres of gravel at an average grade of 0.16 carats per cubic metre and 0.18 grams gold per cubic metre, and inferred resources of 810,000 cubic metres of gravel at an average grade of 0.16 carats per cubic metre and 0.18 grams of gold per cubic metre. The mine is expected to generate immediate and self sustaining cash flow for Vaaldiam from the sale of diamonds and gold. Prior to the financial crisis the Duas Barras mine achieved average rough diamond sales values of US$165 per carat. Operating costs are expected to average US$85 per carat.

 

 

 

 

 

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