Dominion Diamond Corporation unveiled trading results for the fourth quarter of 2017 fiscal year (November to January) at the Ekati diamond fields (the Ekati) and Diavik (Diavik), as well as the production figures at Ekati.
Product sales from Ekati mine made during the period $ 129 million from the sale of 1.4 million carats of diamonds (in the fourth quarter of fiscal year 2016 - $ 178.1 million and 1.1 million carats respectively).
In the fourth quarter of 2017 fiscal year to record Ekati were produced 2.3 million carats of 1.0 million tonnes of ore processed (in the fourth quarter of the year 2016 - 1.2 million carats of 0.9 million tons). Production carat increased by 93% compared to the same period the previous year.
Production Dominion plan to Ekati for 2018 provides for production from 6.3 to 7.0 million carats from the processing of 3.7 to 4.0 million tons of diamond ore (2017 financial year - 5.2 million carats and 2.9 million tons, respectively).
Dominion in the fourth quarter of 2017 fiscal year, a total of $ 129.9 million received from the sale of 1.4 million carats of rough diamonds from the Ekati and Diavik deposits. The total volume of rough diamonds sales decreased by 27% compared to the same period of the previous year. This was mainly as a result of reducing the number of goods sold due to a fire at the processing plant at Ekati mine. In sales also had a negative impact disruptions in normal trading activity after the demonetization of the Indian rupee in November 2016.
The total volume of diamond in carat, Dominion sold in the fourth quarter of 2017 fiscal year, increased by 24% compared to the same period the previous year.
Dominion during the fourth quarter held three rough diamond sales, and in the first quarter of fiscal year 2018 plans to hold two more.
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DiamondCorp reported that the company successfully installed an underground conveyor system with a capacity of 400 tons of rock per hour as part of the first production level at the Lace mine in South Africa.
The statement of the company, directed by Rough & Polished, says that the commissioning of the conveyor is in progress at the moment.
The company plans to put the conveyor in operation by the end of this month.
The new conveyor will replace dump trucks for transporting the future kimberlite and waste rock at the Lace mine. Due to this, the cost of mining one ton of rock will decrease.
DiamondCorp CEO Paul Loudon said that the installation of conveyor belts before the increase in diamond production on the Upper K4 block (UK4) is "significant" A milestone in the construction of the mine.
The company said that, while UK4 production continues, the conveyor belt will gradually expand to the first level of the unit in the mine.
"Waste from the development of the lower levels of the mine will be directly loaded into the conveyor by underground loaders without using dump trucks," the company noted.
"The production capacity of the conveyor at the moment is twice the capacity of the processing plant, so that future opportunities for increasing production will not be limited to the possibilities of transporting ore to the surface."
Meanwhile, DiamondCorp has suspended the sale of a consignment of diamonds weighing 4250 carats due to lower prices for stones in the world market for a shipment of diamonds weighing less than 10,000 carats. Besides, The extraction of diamonds on the UK4 block is slowed down due to the lower mine development rates.
"The management decided to wait until the company could accumulate more diamonds before the sale," DiamondCorp said in a statement.
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