RAPAPORT... Diamcor Mining Inc. recovered a gem-quality 43.90-carat diamond from its Krone-Endora at Venetia project in South Africa. The recovery of this high-quality rough diamond occurred during commissioning and testing exercises. The stone has been sent for evaluation and preparation for sale at an upcoming tender.
The deposits on Krone-Endora occur in two layers with an average total depth of less than 15 meters from surface to bedrock, allowing for a low-cost mining operation, with the potential for near-term diamond production from a known high-quality source, according to Diamcor. The company has completed the construction and installation of extensive infrastructure at the project, along with the installation of a purpose built modular processing plant and extensive quarrying and in-field screening operations.
For the first nine months of the company's fiscal year that ended on December 31, it sold 15,411.74 carats of rough diamonds for proceeds of $3.2 million, or $208.52 per carat. The total included a gem-quality, 91.72-carat octahedron diamond that sold for $8,917.58 per carat.