Diamcor Mining tendered and sold 5,441.88 carats of rough diamonds in the fourth quarter ended December 31, 2021, generating revenue of $1,07 million, resulting in an average price of $197.50 per carat.
It said in total, ongoing trial mining exercises at the Krone-Endora at Venetia project in South Africa from inception through December 31, 2021, resulted in the incidental recovery, tender, and sale of 175,016 carats of rough diamonds generating revenue of $30,2 million at an average price of $172.75 per carat.
The company recorded a net loss before tax of $939,916 for the interim period ended December 31, 2021, compared to $1,4 million, a year earlier.
Diamcor said completed the first phase of its announced two-phase expansion efforts aimed at supporting the doubling of the project’s processing capabilities ahead of schedule during the interim period.
“By December 31, 2021, the company’s efforts shifted to refining and optimising the initial expansion items completed, and the advancement of the second phase of the expansions which remain on target for completion by June 30, 2022,” it said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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