DiamondCorp Moving Toward 2015 Production at Lace Mine

Mining Weekly reported that underground development at DiamondCorp plc’s (LSE:DCP) South Africa-based Lace diamond mine project is ramping up “close to schedule and on budget.” The full underground complement is expected to be complete by the end of March.

The company is targeting production by 2015.

As quoted in the market news:

Surface piling for the life-of-mine vent shaft had started and would be completed by the end of February; well ahead of the mobilisation of the raise bore contractor in the second half of the year.

Meanwhile, the underground mining fleet continued to provide over 90% availability, with operating costs running at 95% of budget.

The mining fleet rebuild costs were also running at 95% of budget, with the last two rebuilt 20 t low-profile dump trucks, required to achieve maximum underground development rates, commissioned on time.

The last two underground loaders were currently being assembled and were scheduled for completion next month.

Further, twin decline development from the base of the boxcut continued downwards to meet the development tunnels coming up from the 92 m level.

Click here to read the full Mining Weekly report.