DiamondCorp resumes Lace mine development

DiamondCorp MD and CEO Paul Loudon said that the support from its shareholders meant that it could access the substantial kimberlite resources below the old working areas at its Lace mine near Kroonstad in Free State province.

"The company is looking forward to accessing the potential 13-million carats in resource at Lace in early 2011, and building up to a potential production of between 400 000 ct/y and 500 000 ct/y, at the same time as the long-term metrics for the diamond industry continue to improve," said Loudon.