Stornoway Announces 1 Million Carats Produced at Renard

Mining and Exploration
16/05/2017 14:45

Stornoway Diamond Corporation today announced the production of one million carats of diamonds at the Renard Diamond Mine in Quebec. The Canadian miner declared commercial production on January 1st, 2017, and as of December 31 2016, the company had recorded the recovery of 448,887 carats from total of 399,162 tons of ore. Full name-plate capacity of 6,000 tons per day, based on 73% plant utilization, is scheduled to be achieved by the end of the second quarter. According to their guidance for 2017, they expect diamond sales of 1.8 million carats at ten tender sales in Antwerp, Belgium.

Matt Manson, President and CEO, commented: “Today’s news represents another important milestone in our production ramp-up at Renard. The one million carat threshold comes, coincidentally, at the same time that the first polished diamonds from the mine have become available for sale in Montreal."