trending Market Intelligence /marketintelligence/en/news-insights/trending/sds-2q_go57jdwgxb8klwg2 content esgSubNav
In This List

Stornoway achieves full design capacity at Renard diamond mine

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices


Stornoway achieves full design capacity at Renard diamond mine

Stornoway Diamond Corp. completed the ramp up at its Renard diamond mine in Quebec, achieving sustained production at or above the mine's full design capacity, the company said Sept. 4.

Over a 20-day period to Aug. 29, ore mucked and trucked to surface averaged 6,039 tonnes per day against a budgeted design capacity of 6,000 t/d. During this period, ore processing averaged 7,085 t/d, with underground feed supplemented with ore derived from the Renard 65 open pit.

The company is sourcing ore from 16 active draw-points developed on four mining panels at the 290-meter level of the Renard 2 kimberlite.

The assisted block cave is developing well and the grade of diamond recoveries has increased. Mining and processing for the remainder of the year will be focused on ore mucked from these higher quality panels, President and CEO Matt Manson said.

Additionally, Stornoway is engaged with lenders and key stakeholders for certain balance sheet changes to provide greater financial flexibility. Discussions are at an advanced stage, and the company expects to provide further details before the end of the current quarter.