Harry Winston Announces Diavik's Response to Global Market Conditions
30 Marzo 2009 - 3:15PM
PR Newswire (US)
TORONTO, March 30 /PRNewswire-FirstCall/ -- Harry Winston Diamond
Corporation (TSX-HW; NYSE-HWD) ("Harry Winston") today announced
that Diavik Diamond Mines Inc. (DDMI), operator of the Diavik
Diamond Mine in Canada's Northwest Territories, is taking a series
of actions to preserve the strength of its operations during the
challenging global market conditions. These actions include two
production shutdowns, further deferral of the start of the
underground mine production, and accelerating the planned
transition to a smaller workforce. The summer and winter production
shutdowns will each last six weeks during which time diamond
production will temporarily cease and the mine will be placed on a
care and maintenance schedule. The summer shutdown is scheduled for
July 14, 2009 to August 24, 2009 inclusive. The winter shutdown is
scheduled for December 1, 2009 to January 11, 2010 inclusive. In
addition the underground mine will be placed on care and
maintenance by the third quarter of 2009, once the majority of its
construction is complete. Diavik will also be accelerating the
process of employee reductions as the project transitions from a
construction phase to being a fully operational underground mine.
Diavik's long term future is in underground mining. Both Harry
Winston and Rio Tinto have invested significantly in the
underground mine construction and remain committed to construction
to prepare Diavik for the long-term. Harry Winston Diamond
Corporation (TSX: HW; NYSE:HWD) will release its Fiscal 2009 Fourth
Quarter and Year-End results for the period ended January 31, 2009,
after market hours on Thursday, April 2, 2009. The Company will
host a conference call for analysts, investors and other interested
parties on Friday, April 3, 2009 at 9:00 AM ET, followed by a
question-and-answer session. To access the call, please dial: North
America: 800-510-0146; passcode 37236627 International:
617-614-3449; passcode 37236627 You may also access the conference
call on a listen-only basis at: http://investor.harrywinston.com/ A
telephone replay of the call will be available one hour after the
call until 11:00PM (ET), April 16, 2009. To access the call replay,
please dial: North America: 1-888-286-8010; passcode 73080790
International: 1-617-801-6888; passcode 73080790 You may also
access a replay of the call at: http://investor.harrywinston.com/
About Harry Winston Diamond Corporation Harry Winston Diamond
Corporation (TSX: HW; NYSE: HWD) is a specialist diamond enterprise
with assets in the mining and retail segments of the diamond
industry. The company supplies rough diamonds to the global market
from its 40% interest in the Diavik Diamond Mine, located in
Canada's Northwest Territories. The company's retail division,
Harry Winston Inc., is a premier jewelry and timepiece retailer
with salons in key locations including New York, Paris, London,
Beijing, Tokyo and Beverly Hills. For more information, please
visit http://www.harrywinston.com/ or for investor information,
visit http://investor.harrywinston.com/. DATASOURCE: Harry Winston
Diamond Corporation CONTACT: Investor Relations - (416) 362-2237
ext 290 or
Copyright