Modern Mining November 2015

MINING News

Diamcor prepares largest tender to date 11,72 carats and 18,05 carats.

tions during the period. The combined efforts currently underway are designed to support the continued advancement of objectives consistent with the recommen­ dations of the updated NI43-101 Technical Report filed by Diamcor in April this year, and to aid the company in arriving at initial production decisions for the project. 

Canada’s Diamcor Mining Inc is preparing diamond inventory for its largest tender to date, with approximately 6 800 carats of rough diamonds recovered from its Krone- Endora at Venetia project in South Africa to be offered. The project is located adjacent to De Beers’Venetia mine. Rough diamonds in this initial tender of the company’s third fiscal quarter, ending 31 December 2015, will consist of approxi­ mately 2 800 carats of rough diamonds from material recovered and processed from the beginning of October to the 25th of the month, along with approximately 4 000 carats of rough diamonds which the company previously announced were held as rough diamond inventory as of 30 September 2015. Rough diamonds being offered for the planned tender will include certain higher value rough diamonds which Diamcor withdrew from the previous tender, namely eight individual 2-3 carat rough diamonds, as well as one 10,93 carat ‘special’ and four additional indi­ vidual ‘specials’ ranging in size between

Rough diamonds being tendered are the result of the continued processing of material in the +1,0 mm to -26 mm size fractions, along with limited processing of material from various larger size frac­

Tractebel to undertake Mbeya power study Kibo Mining, listed on London’s AIM and Johannesburg’s AltX, has engaged Tractebel Engineering, a 100 % subsidiary of Engie (for­ merly GDF Suez), to conduct the Definitive Power Feasibility Study (DPFS) for the Mbeya Coal to Power Project (MCPP) in Tanzania. The DPFS will commence immediately.

(BFS) without the need to give away any of Kibo’s equity in the MCPP, of which the com­ pany still owns 100 %. The appointment of Tractebel also com­ pletes the process of providing Kibo with adequate capacity to develop, construct and commission the MCPP. The MCPP now has the benefit of reputable capabilities in the form of MinXcon to complete mining feasibility work, Tractebel to complete the feasibility studies on the power plant, SEPCO III as preferred EPC contractor and Standard Bank as financial advisor. Headquartered in Belgium, Tractebel Engineering – which acquired the Lahmeyer Group in December 2014 – has approxi­ mately 4 400 employees worldwide and operates in 33 countries. 

According to Kibo, the MCPP will benefit immensely from the wealth of experience and knowledge in Tractebel. The commer­ cial terms on which Tractebel was engaged will furthermore relieve pressure on Kibo’s short term cash flow requirements and funding needs substantially. This will in turn potentially enable Kibo to complete the definitive feasibility studies for both the mine and the power plant and to advance the MCPP up to Bankable Feasibility Study

November 2015  MODERN MINING  17