Diavik Announces Quarterly Diamond Sales of $209.7 Million

Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced fiscal results for its Ekati and Diavik diamond mines for the Q2 2016 fiscal year. It also reported production results for the Ekati mine. The Q2 2016 fiscal year ran from May to July 2015.
Highlights include:

• Sales:
  • Second quarter diamond sales were robust at $209.7 million ($277.3 million in Q2 fiscal 2015), despite a cautious market and a time of seasonal weakness in demand.
• Production:
  • In July 2015, the Company initiated changes to the diamond liberation process to optimize diamond recovery at the Ekati Diamond Mine with promising test results.
  • During Q2 fiscal 2016, the Ekati Diamond Mine recovered 0.9 million carats from 1.0 million tonnes of ore processed (0.8 million carats from 1.1 million tonnes in Q2 fiscal 2015).
  • Ore mined from the Koala and Koala North pipes has caught up to plan as increased production from both pipes in Q2 fiscal 2016 have made up for the shortfall caused by the conveyor belt failure in Q4 fiscal 2015.
  • The operational challenges experienced at the Ekati Diamond Mine process plant in Q1 fiscal 2016 have been successfully resolved.
• Development:
  • Misery Main pipe is still on track for first production in Q1 fiscal 2017.
  • First production from the Pigeon pipe is now expected in November 2016.

Click here to read the full Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) press release.