Canadian company Diamcor Mining delivered about 3 103.40 ct of rough diamonds in January for its initial tender and sale of the New Year.
These rough diamonds, which were recovered from the processing of quarry material at the company’s Krone-Endora at Venetia project, in South Africa, will be tendered in Dubai in the coming weeks.
Diamcor believes 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.
In addition to the efforts already under way 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 the year.
About 85% of the total surface area of the project has yet to be explored and further updates on these efforts will be announced as they are finalised.
“We are pleased with this first delivery of rough diamonds for tender and sale in the quarter as we enter into 2022.
“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.
“We have long believed that the potential for this supply/demand scenario to play out was only a matter of time and we look forward to the coming months and quarters as we continue our efforts to both increase our processing volumes and begin extended exploration efforts aimed at determining the potential of the extensive surrounding areas of the project,” says CEO Dean Taylor.