To 1.9 million carats...

Production at the Diavik mine in Canada rose 8% year on year to 1.9 million carats in the third quarter of 2011.

Diavik Diamond mineGrowth came due to an increase in the overall grade of ore processed, reported Harry Winston, which owns 40 percent of the mine. Rio Tinto holds the remaining 60 percent stake.

During the first nine months of the year, output from the mine rose 2 percent year on year to 5.1 million carats and the mine is expected to add another 1.8 million carats in the fourth quarter.

Harry Winston reported that it held two partial rough diamond sales during its third fiscal quarter, which doesn't end until October 31, but deferred significant sales to the fourth quarter and possibly subsequent periods due to unstable market conditions.

By: Avi Krawitz of RAPAPORT

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