Diamcor to Tender Extra Rough as it Doubles Output
November 21, 21
(IDEX Online) - Diamcor says it is to tender an additional 2,750 carats from its Krone-Endor, at the Venetia deposit in South Africa.
The junior miner had already announced plans to sell 2,527 carats in the current quarter.
The company said an upgrade to double processing volumes had been completed ahead of schedule and a second upgrade, to be completed in H1 2022, should further increase output.
"The rough diamonds … will be tendered over the coming weeks, with additional rough diamonds recovered from the (Venetia) project during the balance of the quarter expected to be sold in December or held as stock on hand at the end of the quarter and tendered in January of 2022," it said.
Diamcor sold 4,330 carats, for a total of $1,023,842 - an average of $236 per carat - in the three months to September.
Diamcor acquired Krone-Endor from De Beers in February 2011, and has a long-term strategic alliance and first right of refusal with Tiffany & Co's Canadian subsidiary.
Pic courtesy Diamcor