DiamondCorp reported that as a result of the temporary suspension of production at the mine diamonds Lace (Lace) in South Africa, the company will not incur significant financial losses. Production was temporarily frozen due to an injury sustained work in the underground mine, and now DiamondCorp can not be performed due in July a plan for the extraction of 30,000 tonnes of ore at the project.
As expected in the company, and now this breed production volume can be reached only in the next month, and the July decline in production will be offset by its increase in September.
Last week, the Department of Mineral Resources (Department of Mineral Resources, DMR) of South Africa conducted an investigation in connection with the case of the collapse of the ground in the mine tunnel at 310 meters, after which production was suspended.
"The incident took place when the inspection was carried out misfiring charges of undermining the mine suffered as a result of the miner assistant, he got a concussion and fractured four ribs." - say in DiamondCorp.
"Work was hospitalized for examination, he is in stable condition in the investigation department decided that all the miners assistants must pass a new course of treatment with explosives." - added to the company.
In DiamondCorp noted that training began at the weekend and will be completed on Wednesday.
"As soon as our assistants miners will receive a new certification, the company turned to the DMR, a statement on the resumption of mining operations is expected that they will be resumed before the end of this week, -. Continued DiamondCorp -. At the same time, processing tailings will be done on Lace ".
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Due to weakening markets in mainland China and Hong Kong in China's largest retail jeweler Chow Tai Fook network reported a decline in retail sales in the III quarter, which ended on 31 December. Sales fell by 11% compared to the same period last year.
In the jewelry house they noted that the results reflect "reduction in the numbers of tourists from mainland China to Hong Kong, as well as the continued weakening of the retail trade in Hong Kong and Macao."
According to the company, sales of jewelry in value in China fell by 6%, while in Hong Kong - 20%. Same-store sales fell 15%, while in mainland China and Hong Kong and Macao, they decreased by 6% and 23%. This is consistent with the results of the first quarter of 2016 fiscal year.
For total sales volume fell 7%, while in mainland China and Hong Kong, Macao, respectively, a decrease of 6% and 21%.
From the point of view of production, products with precious stones sold at 12% less, while sales of jewelry made of gold fell by 14%.
The company noted that the jewelry with precious stones bring 28% of sales revenues, and gold jewelry - 56%. Products made of platinum and karat gold brings to the company 12% of revenue, and the clock - 4%.
Group opened 31 point of sales in the reporting period, including 28 jewelry store hours and 2 in mainland China, and 1 store in other regions. As a result, the total number of stores amounted to 2,317 on 31 December.
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