North Aerial View of the Star-Orion South Diamond Project Image credit: Star Diamond
(northernminer.com) - In spite of a legal dispute between partners Star Diamond (TSX: DIAM) and Rio Tinto (NYSE: RIO; LSE: RIO) at the Star-Orion South diamond project in north-central Saskatchewan, the project should begin to see results this year from the first significant work conducted there in years. In April, Rio Tinto began processing a bulk sample totalling 8,271 wet tonnes that was extracted from the Star kimberlite via 10 holes drilled last year. The major has built an onsite bulk sample processing plant, with mineral concentrates being shipped offsite for final diamond recovery. Star expects all or most of the sample will be processed and reported during 2020. At issue is the ownership of the project. Rio Tinto signed an agreement to earn a majority stake in Star-Orion, located 60 km east of Prince Albert, in 2017. Under the 7.5-year option agreement, Rio can earn up to 60% of the project in four phases by spending a total of $75 million. But in November, the major gave Star notice that it was exercising all four options at once and well ahead of schedule.
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