Dominion’s Fiscal Results Q2 2018 in Line with Expectations

Mining and Exploration
15/09/2017 15:33

Dominion Diamond Corporation reported their financial and operational results for the second quarter fiscal 2018 which ended on July 31, 2017. The results were in line with expectations, consolidated carats produced increased 72% to 2.6 million carats in the second quarter from 1.5 million carats for the same period a year earlier due to higher tonnes processed and a focus on high-grade Misery Main ore at the Ekati mine, with steady performance at the Diavik Diamond Mine.

Other updates included the results of a preliminary economic assessment (PEA) on the underground expansion of the Fox open Pit at the Ekati mine, which is expected to extend mine operations by seven years and lead to the recovery of 11.0 million carats. The Fox Deep project is estimated to cost $628 million to develop, and $1.4 billion to operate.