DFI Quarterly Loss as Marine Mining Suspension Continues

Diamond Fields International (DFI) has not mined or sold any diamonds during the past quarter, resulting in a quarterly net loss of $1.4 million. The company suspended production at its Namibian marine diamond concessions last October.

For the first nine months of the year, DFI posted a net loss of nearly $1 million on revenues of $5.4 million. During the period, the miner sold 26,250 carats of diamonds at an average price of around $205.

Quarterly expenses were primarily general and administrative expenses and the provision for impairment of exploration properties.