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Stornoway produces one million carats of diamonds at Canadian mine

Published 17 May 2017

Stornoway Diamond has produced one million carats of diamonds at the Renard diamond mine in Quebec, Canada.

Matt Manson, President and CEO, commented: “Today’s news represents another important milestone in our production ramp-up at Renard. The one million carat threshold comes, coincidentally, at the same time that the first polished diamonds from the mine have become available for sale in Montreal.

"I’d like to acknowledge the team of dedicated Stornoway employees and contractors, as well as our community partners in Mistissini, Chibougamau and Chapais, who have worked to make this achievement possible.”

About the Renard Diamond Mine\

The Renard Diamond Mine is Quebec’s first producing diamond mine and Canada’s sixth. It is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Québec. Construction on the project commenced on July 10, 2014, and commercial production was declared on January 1, 2017.

Average annual diamond production is forecast at 1.8 million carats per annum over the first 10 years of mining. Readers are referred to the technical report dated January 11, 2016, in respect of the September 2015 Mineral Resource estimate, and the technical report dated March 30, 2016, in respect of the March 2016 Updated Mine Plan and Mineral Reserve Estimate for further details and assumptions relating to the project.



Source: Company Press Release