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Dominion Diamond Reports 2Q Sales Decrease
Aug 23, 2015 2:58 AM
By Rapaport News
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RAPAPORT... Dominion Diamond Corp. said fiscal 2016 second quarter diamond sales were $209.7-million, versus $277.3 million in the comparable quarter (May-July) of fiscal 2015. The results reflect production from the Diavik and Ekati diamond mines, according to a company announcement.
In July, the company initiated changes to the diamond liberation process to optimize diamond recovery at the Ekati diamond mine with promising test results, according to the announcement. During the second quarter of fiscal 2016, Ekati recovered 900,000 carats from one million tonnes of ore processed (800,000 carats from 1.1 million tonnes in the second quarter of fiscal 2015).
Ore mined from the Koala and Koala North pipes has caught up to plan as increased production from both pipes in the second quarter of fiscal 2016 has made up for the shortfall caused by the conveyor belt failure in the fourth quarter of fiscal 2015. As well, operational problems at the Ekati mine process plant in the first quarter of fiscal 2016 have been successfully resolved, the company said.
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Tags:
Canada, Dominion, financial results, Production, Rapaport News
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