Diamcor to Overhaul Facilities at Mine

RAPAPORT... Diamcor is set to expand the processing facilities at its mining project in South Africa, aiming to give output a boost.The company originally planned to overhaul the Krone-Endora at Venetia asset in 2020, but it delayed the work in order to reduce expenses during the coronavirus pandemic, it said last week. Diamcor expects the expansion to take place in two phases.During the first phase, the miner will seek to double current processing volumes using new equipment that will allow it to recover and process rough more efficiently and in higher amounts. The company will finish this part of the project before September 30, it predicted.The second phase will focus on completing groundwork that will enable the miner to expand further in the future, including consolidating its current facilities to increase the amount of ore that can be processed as well as lower the mine's operating costs. At the same time, Diamcor will perform drilling and bulk sampling on prospective target areas for future mining, it said. The company hopes to complete this portion by the end of the year."The expansion and further refinement of our facilities is simply a continuation of our pre-Covid-19 plans to support future growth, with the two-stage approach designed to increase volumes and revenues in the near term, with the goal to fund our planned expansion through increased cash flow," added Diamcor CEO Dean Taylor.Image: Rough from the Krone-Endora at Venetia project. (Diamcor)