Diamcor suspends tenders, focuses on cost-saving during lockdown

TSX-V-listed Diamcor Mining has made several short-term operational changes in response to the events unfolding owing to the global Covid-19 crisis.

The company has suspended its activities in South Africa, placing its Krone-Endora at Venetia surface mining operation, adjacent to De Beers’ Venetia mine, in the Limpopo province, on care and maintenance for the duration of the national lockdown ending April 16.

The company is also implementing cost-saving measures where possible.

Additionally, the company says its rough diamond tenders and sales have been limited or cancelled over the past number of weeks, owing to travel restrictions and related market uncertainties.

“We have overcome many challenges over the years, and in this case, we will continue to evaluate and revise our plans in the coming weeks so we may resume operations as soon as possible, and continue to build on the positive momentum we established entering 2020,” CEO Dean Taylor assures shareholders.