https://www.engineeringnews.co.za

Diamcor records $1m in net income in its second fiscal quarter

27th October 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

Diamond miner Diamcor Mining tendered and sold 3 776.33 ct of rough diamonds in the quarter ended September 30 – the second quarter of its 2023 financial year.

The diamond sales generated revenue of $2.1-million, resulting in an average price of $556.08/ct. This performance was positively impacted by the sale of a 59.35 ct special rough diamond.

Diamcor, which is developing the Krone-Endora at Venetia project in South Africa, recorded net income of over $1-million for the quarter, compared with a net loss of $918 953 in the first quarter of its financial year.

Diamcor’s focus during the period continued to be on managing costs and remaining supply chain delays, the optimisation of operational hours to minimise the effects of national loadshedding in South Africa by State-run power supplier Eskom, and continued refinements to processing plants and equipment aimed at sustaining increased processing volumes for the long term.

“We are very pleased with the continued quarterly growth achieved again for the period ending September 30, and remain optimistic given the recent announcement of the delivery of 5 833 ct for the first tender and sale of this quarter,” says CEO Dean Taylor.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 2.059s - 140pq - 2rq
Subscribe Now