DiamondCorp reported that the South African Department of Mineral Resources (DMR) issued a resolution on the suspension of underground diamond production of its remaining 74% owned subsidiary Lace Diamond Mines after a fire in the mine dump trucks, which was extinguished without injuries to employees.
Nevertheless, the diamond company has questioned the validity of the decision and considering solutions, taking into account its capabilities, including remedies.
"The instructions issued by the DMR, include a request for review with external ventilation shaft inspection on the lack of smoke and other gases," - said in a statement.
DiamondCorp expects that underground mining will be suspended for at least a week.
The company recently announced that it is looking for in the near future, additional funding totaling nearly £ 500,000 to carry out immediate financial obligations and to continue the diamond trade in the foreseeable future.
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In a press release issued on Wednesday, Dominion Diamond Corporation (TSX: DDC , NYSE: DDC) made the following statement in response to recent speculation in the media.
Dominion confirms that the firm Rothschild, which has historically acted as a financial consultant for Dominion series of strategic issues, was involved earlier this year in order to help the company and its board of directors in considering a number of possible initiatives to maximize shareholder value.
There are no guarantees in respect of the fact that the result of all this would be any bargain, and the company does not intend to make any further statements or give comments on these issues, if it is not required by the circumstances.
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