Diamcor eyes run-of-mine prices of $175/ct to $200/ct from SA project

Diamcor Mining said the average run-of-mine prices of $175/ct to $200/ct were still within reach for the Krone-Endora at Venetia project, in South Africa.
The Canadian National Instrument (NI) 43-101-compliant technical report, filed in July 2009, had provided an estimate of $70/ct on average, while diamonds that were part of testing recoveries, had attracted an average of $142/ct.
Mining Weekly quoted Diamcor chief executive Dean Taylor as saying that the significant upside of the project lies in the project’s propensity for individual diamonds weighing 10 ct and more.
“It’s going to be nice to see what’s in these larger stockpiles,” he said, referring to the stockpiles of material-containing ore in the 10 mm to 28 mm, and 28-mm-plus categories, which were not processed, owing to the larger-sized plant still under construction.
Taylor also said he was confident in the operation’s success.
“Every time we run the plant, we get great recoveries,” he said.
Diamcor said it was expecting the move to full-scale mining to coincide with the issuance of a mining right for the project by the South African Mineral Resources Department.
This was expected to take place in the first quarter of 2013.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished