Stornoway Diamond Corporation announced yesterday that it had achieved commercial production at the Renard Diamond Mine.

“Commercial Production at Renard is defined as an average processing rate of 60% of plant name-plate capacity over a 30 day period,” the Company said. “This was achieved on December 3, 2016, with an average processing rate of 4,120 tonnes per day over the preceding 30 day period compared to a name-plate capacity of 6,000 tonnes per day.”

In keeping with the terms of Stornoway’s financing agreements, it will formally declare commercial production  on January 1, 2017  -- the first day of the month following the month in which it is achieved. 

Over the next two quarters, Stornoway will continue to ramp-up the process plant to full production.

Matt Manson, President and CEO of Stornoway, commented: “The attainment of Commercial Production marks the end of the project’s capital expense period, and our final capital costs are forecast to be comfortably within the reduced C$ 775 million estimate set out in February 2016. Our production ramp-up continues, with three diamond sales scheduled for the first quarter of 2017.”

 Pic Courtesy Stornoway Diamond Corporation