Wednesday, March 25, 2015

Dominion Diamond Corporation - DDC.t

Dominion Diamond Corporation - DDC.t is a Canadian diamond mining company with ownership interests in two major producing diamond mines in Canada’s Northwest Territories. The Company operates the Ekati Diamond Mine (88.9% controlling interest) and also owns 40% of the Diavik Diamond Mine.

The company is the world’s third largest producer of rough diamonds by value.






On March 6, 2015 the company reported News

YELLOWKNIFE, Northwest Territories--(BUSINESS WIRE)--Mar. 6, 2015-- Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) is pleased to release an updated reserves and resources statement and an updated “reserves-only” life of mine plan for the Diavik Diamond Mine.

Unless otherwise specified, all financial information is presented in Canadian dollars, on a 100% basis, and references to years are to calendar years. The Company has a 40% interest in the Diavik Diamond Mine.

The updated reserves and resources statement adds an additional 3.9 million tonnes containing approximately 13.0 million carats to the mineral reserves. As of December 31, 2014, the Diavik Diamond Mine had 18.1 million tonnes of proven and probable mineral reserves containing 53.3 million carats of diamonds (compared to 16.4 million tonnes of proven and probable mineral reserves containing 46.8 million carats as of December 31, 2013).

At the A-21 pipe, 3.7 million tonnes containing 10 million carats has been promoted to proven reserve material. In addition, at the A-154 North pipe, 0.24 million tonnes of inferred resources at depth were promoted to probable mineral reserve status. Within the remaining reserve at the A-154 North pipe, 0.5 million tonnes were promoted from probable reserve to proven reserve, supported by sampling in the active mine which improved confidence for production forecasting.

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On January 15, 2015 the company reported News

Dominion Diamond Corp. has released Diavik diamond mine production results for the fourth calendar quarter of 2014.

DIAVIK DIAMOND MINE PRODUCTION
(100-per-cent basis)
Q4 2014 Q4 2013 Full-year 2014 Full-year 2013
Tonnes processed (millions) 0.51 0.54 2.28 2.12
Carats recovered (millions) 1.54 2.07 7.23 7.24

Processing volumes in the fourth calendar quarter were 5 per cent lower than the same quarter of the prior year due to the improved processing rates in prior quarters, fully exhausting the stockpiled ore by the third calendar quarter. This resulted in only run-of-mine ore being processed in the fourth quarter.

Carats recovered in the fourth calendar quarter were 25 per cent lower than the comparable quarter of the prior year as a result of lower realized grades in all three orebodies and a higher proportion of the lower-grade A154 North ore being processed in the fourth calendar quarter of 2014 than in the comparable calendar quarter of 2013.

A new mine plan and budget for calendar 2015 have been approved by Rio Tinto PLC and the company.
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