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Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) reported Q3 2015 production results from its Diavik diamond mine, noting that it recovered 24 percent fewer diamonds than it did in the year-ago period.
Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) reported Q3 2015 production results from its Diavik diamond mine, noting that it recovered 24 percent fewer diamonds than it did in the year-ago period. The lower recovery rate came on the back of lower processing volumes and lower recovered grades from two pipes.
As quoted in the press release:
Processing volumes in the third calendar quarter of 2015 were 15% lower than the same quarter of the prior year due to a combination of two factors. First, additional stockpile ore was available and processed during the comparable quarter of the prior year; this additional stockpile was fully exhausted in calendar 2014. Second, ore availability in the current quarter was slightly impacted by poor ground conditions at A-418 and A-154 North.
Diamonds recovered in the third calendar quarter were 24% lower than the same quarter of the prior year reflecting lower processing volumes and lower recovered grades from the A-154 South and A-418 pipes which was offset in part by increased production from coarse ore rejects (“COR”).
The development of the A-21 pipe continues to progress according to plan.
Click here to read the full Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) press release.