BM Diamondcorp says S. Kalimantan diamond project near commercial production
Friday, September 26 2003 - 03:54 AM WIB
According to the company, final plant design drawings have been commissioned to allow sourcing and construction of the required production plant to allow production at a rate of +47,000 carats per annum from the company?s previously announced resource base (measured, indicated and inferred) of +740,000 carats of diamonds.
In-fill drilling of the initial mining area has been completed and the samples are currently being processed, said the company.
The company, however, did not say when the commercial production would commence.
The feasibility study concluded that the Danau Seran and Cempaka deposits could be economically developed in two stages. Danau Seran would be mined over two years, starting with an initial six-month dry mining followed by 18 months of dredge mining for the total projected recovery of 82,051 carats.
While mining of Danau Seran is completed, detailed in-fill drilling will be undertaken on the adjoining Cempaka deposit, where inferred resources delineated to date would be sufficient for a further 16 years of mining for the projected recovery of 633,450 carats.
The company?s environmental consultants, based at the University of Lambung Mangkurat, has completed the final environmental impact assessment (AMDAL) based on the mine plan outlined in the feasibility study. This has been lodged with local and regional government authorities and all final approvals for the commencement of mining have been received.
The company said it was dependent upon future sources of financing to fund its mine construction and startup working capital at the project, estimated at C$3,250,000.
BM Diamondcorp has 80 percent stake at Cempaka diamond project with state miner PT. Aneka Tambang holds the remaining balance. (alex)
