https://www.miningweekly.com
Africa|Diamonds|Eskom|Excavator|Financial|Generator|Mining|Power|Systems|Equipment
Africa|Diamonds|Eskom|Excavator|Financial|Generator|Mining|Power|Systems|Equipment
africa|diamonds|eskom|excavator|financial|generator|mining|power|systems|equipment

Diamcor seeks to raise C$5m

3rd October 2023

By: Creamer Media Reporter

     

Font size: - +

Canadian diamond mining company Diamcor Mining, which owns and operates the Krone-Endora at Venetia mine, in South Africa's Limpopo province, plans to complete a term loan financing of up to C$5-million.

The proceeds will be used for general corporate purposes, the deployment of additional operational equipment to support increased processing volumes, the continued advancement of the work programmes currently under way at Krone-Endora and to provide the company with additional working capital to offset the timeframes associated with the tendering and sale of rough diamonds.

Diamcor in August reported that ongoing trial mining exercises at Krone-Endora, from inception through to March 31 this year, had resulted in the incidental recovery, tender and sale of 198 279.85 ct of rough diamonds, generating revenue of $37.83-million.

During the financial year ended March 31, the company tendered and sold 18 476 ct of rough diamonds.

The company in July completed the reconfiguration of its existing generator systems at Krone-Endora, enabling it to process material without disruption as a result of rotational power cuts by South African power utility Eskom. Diamcor expects this will help it improve processing volumes and diamond recoveries.

Further, the company also took delivery of a new large excavator at Krone-Endora in July, in order to increase processing volumes and diamond recoveries.

 

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.111 0.145s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: