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DiamondCorp Sale From Lace Mine Generates $279K

Dec 3, 2013 10:34 AM   By Sonya Burlan
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RAPAPORT... South African-based DiamondCorp, a diamond development and exploration company, reported that its November rough diamond sale of 6,442 carats achieved $278,574, or $43 per carat. The sale was the first of its kind for the company, offering rough diamonds recovered from tailings retreatment activity at the Lace diamond mine in the Free State province of South Africa and it included the first diamonds sold to Laurelton Diamonds, a subsidiary of Tiffany & Co.

DiamondCorp estimated that it could reduce operating costs of tailing retreatment projects once it establishes a three work-shift operation, which it plans to do by February 2014. Additionally, the introduction of in-pit screening has the potential to increase production to 7,500 carats per month, which would allow a significant proportion of the tailings to be retreated prior to the underground mine achieving full production, according to the firm.
Tags: DiamondCorp, Distinctive Choice 1235 cc, Lace Mine, Sonya Burlan, South Africa
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