|
RAPAPORT... Diamcor Mining Inc. completed upgrades for procurement, delivery, construction and installation of a vast majority of its equipment and infrastructure to expand the quarrying and infield screening operations at the Krone-Endora at Venetia project in South Africa. These preparations were made in anticipation of a planned move to operating 24 hours, seven days a week and were financed through $4 million in funding from its strategic partner Tiffany & Co. Project enhancements included the development of the semi-mobile infield screening plant, which Diamcor said would significantly enhance processing capacities and operating efficiencies for the long term. "I am very pleased with the commitment of our entire team who have again demonstrated their abilities by completing these significant upgrades in a very short period of time, despite dealing with the record rains and flooding, which have been widely reported in the area throughout most of January," said Diamcor's president, Dean H. Taylor. "We are confident this additional equipment and infrastructure will further enhance overall results which have already been meeting or exceeding our expectations, and we are excited as these new upgrades will now enable us to now begin processing the larger plus-10-millimeter material." The infield dry scrubbing and screening additions and modifications to the project's quarrying operations included the installation of a large mobile barrel screen and feed bid, with a throughput capacity of up to 800 tons per hour, and the modification of its Terex H6302 power screen to maximize throughput capacities and enable the classification of material in conjunction with the new equipment added to the infield screening process. Diamcor also installed a rotary dry scrubbing unit to better liberate material in the minus 28-millimeter to plus 5-millimeter range. It also constructed a large, three-story support structure and installation of a new high-capacity Dabmar Bivitec non-blinding double-deck screening unit to provide increased capacity in the removal of minus 1.2-millimeter fine material. The Dabmar screening systems represent the latest technology, according to Diamcor. Following the completion of the final commissioning and testing exercises, the company plans to focus on progressing toward trial mining in order to provide rough production to sell and improve its immediate cash flow. Diamcor anticipates full-scale mining will coincide with the confirmation by the South African Department of Mineral Resources of mining rights, which is in progress. Tiffany has rights of first refusal to purchase up to 100 percent of rough diamonds from Krone-Endora, excluding special sizes and individual stones of 10.8 carats or greater.
|