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DiamondCorp on Schedule for Full Production at Lace-Mine Block in July
Jan 27, 2016 5:17 AM
By Rapaport News
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RAPAPORT... DiamondCorp said it is on schedule to achieve full
production at the Upper K4 block of the Lace diamond mine in South Africa by
July as ramp-up from the block continues.
The
conveyor-belt system commissioned in November is operating in accordance with
its design specification. Mining of the block is proceeding without any issues
with respect to ground conditions, according to a statement January 26. Poor
ground conditions had caused a delay
to drilling at the mine last year.
The diamonds
recovered from initial processing are meeting expectations of color and quality.
They include three stones larger than 10 carats, the largest of which was a
22.11 carat, H-color stone. The diamond has been sold into the company's South
African beneficiation joint venture for $5,000 per carat, with a view to
recovering an 8-carat emerald-cut stone after cutting and polishing, the
statement said. DiamondCorp will receive a 50-percent share of cutting and
polishing profit in addition to the price of the rough when the polished
diamond is sold.
The miner said 7,449 carats of diamonds
have been produced towards the first sale.
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Tags:
DiamondCorp, Lace Diamond Mine, mining, Rapaport News, Rough Diamonds, South Africa, Upper K4 block
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