Stornoway Diamond Corporation has announced that its production from the Renard Diamond Project (Renard) amounted to 448,887 carats during 2016 at an average grade of stones of 112 carats per hundred tons of ore.
The results in 2016 were significantly better than the forecasts of the company, which included the production of 218 400 carats of diamonds at 97 carats per hundred tons of ore.
Commercial production at Renard was officially launched January 1, 2017. A total of 399,162 tons of ore were processed.
. The company managed to sell 38 913 carats of diamonds in 2016, with revenue of $ 7.6 million
Matt Manson (Matt Manson), President and CEO of Stornoway, commented: "In 2016, we completed the construction of the Renard diamond mine ahead of schedule and a smaller budget, and achieved commercial production at the end of the year. Our ability to bring the project to production phase earlier than planned resulted in a significant increase in production in carats for 2016 than expected, and getting an early start to the earnings before mmercheskogo production. The forecast for 2017 is cautious for diamond prices due to the uncertain market conditions and due to lower prices of small stones of poor quality. Our goal in 2017 is to maintain a good operating performance and a gradual improvement in the quality of extracted diamonds, as we continue to introduce our recycling plant into operation. "
In 2017, Stornoway plans to produce 1.7 million carats and 1.8 million carats to sell raw materials at an average price of $ 100 to $ 132 per carat.
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The well-known Indian jewelry brand TBZ-The Original (Tribhovandas Bhimji Zaveri Limited) together with a major Internet trading company Snapdeal will sell exclusive jewelry and gold coins.
Shrikant Zaveri, Chairman of the Board of Directors and Managing Director of TBZ Ltd., said: "Thanks to the wave of e-commerce that has swept India, the well-known brand TBZ-The Original is teaming up with Snapdeal to showcase jewelry to consumers as part of the brand's first Retail trade on the Internet. "
Speaking about the partnership between the companies, Tony Navin of Snapdeal said: "The jewelry segment is one of the fastest growing for Snapdeal. Thanks to the launch of the exclusive collection of Tribhovandas Bhimji Zaveri on our platform, we will be happy to provide our customers with a choice of certified products from well-known brands, and expand our portfolio of jewelry and accessories.
We work together with the team of TBZ specialists, and thanks to this cooperation we will be able to reach new markets thanks to the coverage of the Snapdeal audience throughout India. " Tribhovandas Bhimji Zaveri Limited is a well-known brand of India with a high consumer trust rating of more than 150 years. Was established in 1864 with the opening of the main store network in the market of Zaveri in Mumbai.)
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