DiamondCorp Expects 250,000 Carats by 2014

Mining Weekly reported DiamondCorp (LSE:DCP) expect its Lace mine will reach production of 250 000 ct by 2014 and over 400 000 ct by 2015.

As quoted in the market news:

Output from the mine, near Kroonstad, would increase to over 500 000 ct by 2025, the London- and Johannesburg-listed company stated.

DiamondCorp has earmarked R384-million for building the new mine. Last week, it agreed a R280-million loan with the Industrial Development Corporation.

Click here to read the full Mining Weekly report.