How big is 14 billion?
Bringing mind-boggling diamond numbers into perspective by Richard Gleeson
NNSL (Feb 27/98) - Getting a handle on the kind of dollars being mined just north of Yellowknife is about as easy as wrapping your head around what it would feel like to walk from Rae-Edzo to Pluto.
Premier Don Morin noted BHP's Ekati mine is expected to produce $14 billion
worth of rough diamonds during the 25 years the mine will be in operation.
Taking a territorial view of the matter, Yellowknife North
MLA Roy Erasmus said, "Look at it this way. Our budget is a billion
dollars a year, so that's our budget for 14 years."
That's for the rough diamonds BHP will be selling. After
the same diamonds are sorted, cut and polished, the value rises to at least
as much again.
Ekati is only the first of several diamond mines set to
open in the western territory over the next few years.
In an attempt to further public understanding of the
dollars involved in the diamond stake, Yellowknifer offers the following
comparisons:
Alongside the astronomical figures is the minuscule amount of product that will bring in the dollars. Ekati mine will produce enough rough diamonds each day to fill a two-litre milk carton. Premier Don Morin reportedly wants to buy a 10th of that -- just a cupful. |