In the media

Over 27 000 ct recovered from DiamondCorp Free State tailings

11 July 2008

Source: Mineweekly

Author: Creamer Media Reporter

Emerging diamond pro–ducer DiamondCorp, develop–ing the Lace mine in South Africa, recovered 27 103 ct from the mine’s tailings in the first six months of 2008, it said last week.

During the same period, the company sold 19 214 ct of gem–quality diamonds for $1,1–billion, at an average price of $61/ct.

One of the stones it recovered from the tailings was a 34,84 ct nongem diamond.

The company was redevel–oping the Lace mine, located near Kroonstad, in the Free State province, which it said was now more than a year ahead of schedule.

The first phase of Lace’s development entailed the retreatment of dumps at the operation, with underground mining now set to begin in September.

“First pass recoveries from the tailings retreatment operation are now in line with original estimates and issues with power supply and the recrush circuit have been addressed,” CEO Paul Loudon said in an emailed statement.

“At the same time, the development of the Lace underground project is now 14 months ahead of the original schedule.”

Aim– and JSE–listed DiamondCorp this year negotiated a second power source for its Lace project, from diamond giant De Beers’ nearby Voorspoed mine. This would mitigate the down time from power out– ages.

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