Corporate profile

 

DiamondCorp plc is focused on the re-development of the Lace Mine located near Kroonstad, South Africa. This historic mine is famed for its pink and purple fancies.
 
DiamondCorp is currently developing the Lace underground mine to access the kimberlite pipe known to extend to depths below 850m. Operations are currently focussed on developing the UK4 block while  also ramping down to 500 metres for an initial block cave. The company expects to restart diamond production from the kimberlite in H1 2016. The existing treatment plant has a capacity of 1.2 mtpa. Delineated resources will maintain the Lace mine for at least 25 years but the diamond pipe extends at depth and remains to be delineated. Annual production should exceed 500,000 carats per annum on occasions during that period. 
 
In July 2012, the Industrial Development Corporation of South Africa agreed to lend Lace Diamond Mines R220m towards the re-development project and in November that year, DiamondCorp signed a US$6m term loan with Laurelton Diamonds, Inc., a wholly-owned subsidiary of Tiffany & Co. in return for long term diamond offtake. The Offtake Agreement took effect from the First Funding Date until the end of the life of the mine. Subject to any purchases by the South African State Diamond Trader, the Offtake Agreement will give Laurelton Diamonds, Inc. the right to purchase, on commercial terms related to fair market value, production from the Lace Mine which meets the quality and colour standards required to yield Tiffany quality polished diamonds. Special stones and those diamonds which do not meet the Tiffany standard will be excluded from the Offtake Agreement.
 
 
DiamondCorp is fully compliant with South African minerals legislation with leading local black economic empowerment (BEE) groups Shanduka Resources and Sphere Investments each holding a 13% in Lace Diamond Mines (Pty) Ltd, a subsidiary of DiamondCorp.

DiamondCorp plc is listed on the AIM Market of the London Stock Exchange (Code:DCP) and on the Alternative Exchange (AltX) of the JSE Limited in South Africa (Code:DMC).

Directors and Officers

The Board is responsible for approving Company policy and strategy, they are:




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