Dominion Diamond Corporation (DDC) provided an update on the progress of the feasibility study on the diamond deposits Jay (Jay), located in the zone of responsibility of SP Buffer Zone Joint Venture, in which the Company owns a majority stake.
DDC has decided to maintain continuous production at the Ekati diamond mine (Ekati), without having to start this year on capital construction project, Jay, and, as a consequence, properly adjust the timetable for the project.
Initial plans for a feasibility study on the Jay is planned to begin construction in the capital this year. However, changes at Ekati plans made possible a continuous supply of ore to the processing plant at the mine, which increased the possibility of optimizing Jay project.
The company is completing a feasibility study by Jay on the basis of the revised timetable for the development. The new schedule assumes that the construction of all-weather access route to the shoreline of Lake Lac du Sauvage will be implemented in 2017 calendar year. Then followed the construction of water retention dams and associated infrastructure in the period from 2018 to 2020, and in 2022 - will work to drainage and cleaning. Extraction of kimberlite with Jay is scheduled to begin by the end of 2022.
J represents the most significant undeveloped Ekati diamond mine. Jay is at lake Lac du Sauvage, about 1.2 km from the coastline and 30 km south-east of the main infrastructure of the Ekati mine.
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As reported in the International Platinum Guild (Platinum Guild International, PGI), platinum jewelry were among the growth leaders for the Indian jewelry industry, as their retail sales rose 24% in 2015. It also proved to be the only category of jewelry, sales of which grew every quarter.
PGI published the third annual survey "The barometer of the retail segment" (Retail Barometer), which provides a unique perspective on the demand for platinum in the retail segment, and expects the platinum market sentiment for the coming year.
Data collected of PGI, showed that retail sales of platinum jewelery in India increased by 24% in 2015. In addition, the platinum performance in terms of consumer acceptance, the growth of networks and dissemination of successful brand development programs were also high.
At the same time, in the PGI and optimistic about the growth in demand for all jewelry products in 2016, and in the segment of platinum and diamond jewelry growth may turn out to be the strongest. According to PGI, on the basis of the demand will grow by 23%.
Among the important topics covered in the survey "The barometer of the retail segment", are the following: platinum rings and bracelets, launched in 2009 to "Platinum Day of Love" (Platinum Day of Love), now considered a permanent category of products, although the potential for some growth sales retained. In addition, there is a high demand for platinum bracelets category for couples.
Meanwhile, in 2015, sales of expensive wedding decorations, which are one of the most important permanent categories for retailers, declined significantly. In this case, the main focus of attention for retailers continued to be the segment of retail bridal jewelry, which is 60% of total sales of jewelry in India.
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