Diamond

Stellar Diamonds provides update on Guinea diamond mines

Stellar Diamonds’ production at the Mandala diamond mine in Guinea for the first half of the year yielded 36,945 carats at an average grade of 32 carats per hundred tonnes (cpht), Antwerp Facets Online said in a recent report.

Total production at Mandala since mining commenced in April 2009 has now exceeded 83,000 carats at an average grade of 38 cpht with sales returning an average price of US$32.7 per carat, it added.

The West African diamond explorer is targeting monthly production of 12,000 carats at Mandala as part of its production increase, which is well underway.

At Bomboko, production from trial mining for the first half of the year yielded 3,151 carats at an average grade of 4 cpht. Total production at Bomboko, including the period before Stellar acquired West African Diamonds plc, has reached 4,540 carats at an average grade of 4 cpht, with sales returning an average price of US$116.7 per carat.

“After boosting our mining capacity at Mandala and Bomboko, Stellar is well-positioned to significantly increase its production and revenues as well as reduce its unit costs per carat produced,” said Karl Smithson, CEO of Stellar Diamonds.