Junior Diamcor Aims to Increase Output
January 27, 22
(IDEX Online) - Diamcor has delivered 3,103.40 carats of rough from its Venetia deposit, in South Africa, for tender.
The Canadian junior miner recovered then from the processing of quarry material and will sell them in Dubai in the coming weeks at its first sale of 2022.
Dean Taylor, the company's CEO, said that while major like De Beers were raising prices amid short supply, Diamcor looked forward to increasing its processing volumes and extending its explorations.
He said: "We have long believed that the potential for this supply/demand scenario to play out was only a matter of time, and we look forward to the coming months and quarters as we continue our efforts to both increase our processing volumes and begin extended exploration efforts aimed at determining the potential of the extensive surrounding areas of the project."
Diamcor acquired Krone-Endor from De Beers in February 2011, and has a long-term strategic alliance and first right of refusal with Tiffany & Co's Canadian subsidiary.
Last November it said it had sold 4,330 carats, for a total of $1,023,842 - an average of $236 per carat - in the three months to September.
Pic courtesy Diamcor