Stronger rough diamond prices prompt Diamcor to fast-track some Phase 2 expansion projects
TSX-V-listed Diamcor Mining plans to accelerate certain portions of the planned Phase 2 expansion project at its Krone-Endora at Venetia project, in Limpopo, South Africa.
“Given the current strength of rough diamonds prices and the potential for additional shortages moving forward, we have elected to accelerate the completion of certain portions of our second phase of upgrades earlier than planned.
“The items being accelerated will enhance the upgrades already completed in Phase 1, provide us with the ability to increase processing volumes in the shortest period of time, and serve to position the company with the ability to capitalise on any further increases in rough diamond prices or supply shortages should they occur moving forward,” CEO Dean Taylor comments.
The areas that will be accelerated include the installation of additional screening, water management systems and various other associated infrastructure items.
The installation of these items ahead of schedule is aimed at increasing the current processing volumes and efficiencies of the completed Phase 1 expansions, while continuing to support the company’s overall planned Phase 2 expansions.
Diamcor states that, while the installation of additional X-ray diamond sorting units remains a priority, these items are largely driven by manufacturer delivery times. The company is also confident that the previous upgrades made to the project’s current X-ray units and final recovery systems will support the increased volumes.
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