Diamcor Mining has delivered 3,103.40 carats of rough diamonds in January for its initial tender and sale of the new year.
It said these rough diamonds recovered from the processing of quarry material at its Krone Endora at Venetia Project in South Africa will be tendered in Dubai in the coming weeks.
“We are pleased with this first delivery of rough diamonds for tender and sale in the quarter as we enter into 2022,” said Diamcor chief executive Dean Taylor.
“It has been widely reported by mainstream financial media that supplies of rough diamonds are strained and majors such as De Beers have raised diamond prices by approximately 10% as we head into 2022.”
Meanwhile, Diamcor said it has the potential to further increase processing volumes moving forward through additional refinements and optimisation of the previously completed Phase 1 upgrades, and efforts continue to be advanced on the Phase 2 upgrades which are still targeted for completion by June 30, 2022.
“In addition to the efforts underway to increase processing volumes, the company is targeting the start of exploration and bulk sampling exercises on certain surrounding areas of the Project prior to the end of 2022,” the company said.
Diamcor said about 85% of the total surface area of the project has yet to be explored.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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