Diamcor Mining believes that 2024 will be a year of considerable opportunity for it to refocus its efforts on the progress and growth of its Krone-Endora at Venetia project in South Africa.
According to the company, the project has always presented a compelling possibility due to its direct association with De Beers' Venetia diamond mine, which is widely regarded as one of the most productive diamond mines in the world.
Diamcor said that its major areas of focus for 2024 will be the continuation of trial-mining activities and the optimisation of operational efficiencies, with auxiliary diamond recoveries and sales revenue supporting the project's proposed work programs and sustained advancement.
It will also concentrate on the simultaneous advancement of additional bulk sampling in key areas of interest within the remaining 85% of the property to evaluate the probable extent and location of the known displacement of material from Venetia into these areas.
Diamcor will complete planned additions to the project's processing plant and recovery systems, as well as additional heavy equipment assets, to support significant increases in processing volumes and the potential for increased ancillary revenues while lowering long-term operating costs at the project.
The mining company said that it will continue to identify and evaluate possibilities that show the potential for further near-term production of natural gem-quality raw diamonds from non-conflict areas to support the company's future growth and shareholder value.
“We believe [that] with the recent events of the past few years now largely behind us, we are well-positioned in 2024 to now take advantage of the compelling opportunity that companies such as Diamcor have with the ability to provide gem-quality natural rough diamonds from non-conflict areas moving forward,” it said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
