BHP Diamonds Inc. and Dia Met Minerals Ltd. Announce Completion of De Beers Sales Contract.KELOWNA, BRITISH COLUMBIA--(BUSINESS WIRE)--July 12, 1999-- Dia Met Minerals (TSE:DMM.A.)(AMEX AMEX See: American Stock Exchange :DMM.A)(TSE:DMM.B.)(AMEX:DMM.B) BHP Diamonds (NYSE NYSE See: New York Stock Exchange :BHP) Following the signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. in March this year, BHP Diamonds Inc., as sales representative for the Ekati(TM) Diamond Mine joint venture, and De Beers have now signed a definitive contract covering the sale of 35 per cent of the run-of-mine production from Ekati(TM) to De Beers for a three year term. BHP Diamonds (51 per cent), Dia Met Minerals (29 per cent), and two geologists, Charles E. Fipke (10 per cent) and Stewart Blusson (10 per cent), developed the Ekati(TM) Diamond Mine which is located in the Lac de Gras area of the Northwest Territories, about 300 kilometers northeast of Yellowknife. The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. have neither approved nor disapproved the information contained in this release. James R. Rothwell, President, BHP Diamonds Inc. James E. Eccott, President Dia Met Minerals Ltd. |
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