26th Jan 2016 09:52
LONDON (Alliance News) - South African diamond miner DiamondCorp PLC on Tuesday said the ramp up of production at the Lace mine is on track and said the outlook for the diamond market is looking better for 2016.
DiamondCorp said the production ramp up from the Upper K4 block at the Lace mine has continued on schedule, leaving it on track to hit 30,000 tonnes per month of production by July. The company said the diamonds recovered from the initial processing work were in line with its expectations in terms of quality and colour.
The company added sentiment in the diamond market has started 2016 in a "reasonably positive mood", as supply management by the big players in the market has helped to restore demand for rough diamonds in certain categories.
DiamondCorp shares were up 7.0% to 6.69 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
DCP.L