Dominion Diamond's Diavik Mine Production, Processing Up in Q1 2016

Mining and Exploration
19/04/2016 15:35

Dominion Diamond Corporation (Canada) yesterday reported that Diavik Diamond Mine production results for the first calendar quarter of 2016 showed processing and recovery volumes higher than in the same quarter of the prior year. Processing volumes in the first calendar quarter of 2016 were 17% higher (from 0.48 million to 0.56 million carats) due to greater ore availability as a result of higher mining rates and availability of stockpiled ore. Diamonds recovered in the first calendar quarter were 26% higher (from 1.50 million to 1.88 million carats) than in the same quarter of the prior year reflecting higher processing volumes and a higher recovered grade. Dominion expects to produce around 7 million carats, which will be sourced exclusively underground.

Based on sales during the first calendar quarter of 2016 and the current diamond recovery profile of the Diavik processing plant, Dominion approximates March 2016 average price per carat from their three kimberlite pipes to be $133.3, with a high of $175 from pipe A-154 North and a low of $95 from pipe A-418. The press release notes that development of the A-21 pipe continues to progress according to plan.