Overview
Stage | Production |
Mine Type | Underground |
Commodities |
|
Mining Method |
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Production Start | ... |
Mine Life | 2031 |
Finsch is renowned for highly commercial goods of +5 carats and is rich in gem quality smaller diamonds.
A number of large +50 carat stones are also recovered annually. The mine can also produce very rare fancy yellow diamonds.
At Finsch, we will extend the mine below the current mined area to establish a sub-level cave on the Lower Block 5 3-level which will extend the mine plan to 2030. The capital investment is estimated at US$216 million and the IRR is also expected to be in excess of 30%, generating a NPV estimated at more than US$90 million. Capital expenditure for this project commenced during FY 2023 and we expect first production in FY 2025. |
Source:
p. 26
Petra Diamonds Ltd.: 74%;
Itumeleng Petra Diamonds Employee Trust: 12%;
Kago Diamonds (Pty) Ltd: 14%.
Contractors
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Summary:
Finsch has an age of 118 ± 2.8 Ma (Smith et al., 1985), and is a Group-2 kimberlite (Smith, 1983a; Fraser and Hawkesworth, 1992). The geology of Finsch Mine in the open-pit and on the 348 m underground sampling level was described by Clement (1982). The pipe was emplaced through a thick sequence of Proterozoic, Griqualand West sequence sedimentary rocks comprising dolomites, banded iron formation and shales. Preserved within the pipe are large fragments of Karoo-aged sediments, lavas and dolerite which were clearly present at the time of emplacement, but have been subsequently eroded away.
Clement defined eight kimberlite varieties in the mine which he called F1–F8. F1 was described as being the most significant volumetrically and was classified as a diatreme-facies TKB. This variety hosted numerous very large blocks of down rafted Karoo basalt lava and sedimentary rocks. The F5 variety was also described as TKB, but occurred within a satellite portion of the pipe called “the precursor”. The other varieties were classified as hypabyssal kimberlite or kimberlite breccia.
Exploration of deeper levels of the mine found that the F8 variety increased in size with depth, and that the lithiccontent of the F1 declined with depth. Mapping of deeper levels has also revealed the presence of steeply dipping bedding planes within both the F1 and F8 varieties. Ekkerd et al. suggested that the F1 and F8 could be the same kimberlite, varying only in lithic content and alteration.
Summary:
Mining method: Underground sub-level cave.
Production has been from the 4.8 Ha, 4-level Upper Block 5 SLC (sub-level cave), which has been operating at steady state since 2019. It predominately produces highly commercial diamonds of +five carats and gem-quality smaller diamonds.
The implementation of the 78-Level Phase 2 extension to the current cave will also assist in providing clean ore for the remaining life of the current sub-level cave and enable a smooth transition to the new, lower block 5 sub-level cave from FY 2025 onwards.
During FY 2023, Finsch suffered from a combination of an ageing fleet of underground equipment, compounded by a delay in the delivery of new equipment due to an increase in manufacturer lead times, as well as unfilled vacancies for a number of senior technical personnel. These issues were further compounded by an extended rock-winder breakdown in the second quarter, which has since been fully resolved.
The second half of the Year saw the first signs of a turnaround in performance as new equipment began being deployed and the recruitment of senior technical personnel to fill the vacancies. This led to ROM tons increasing by 20% quarter-on-quarter in the third quarter, despite some ground handling challenges which have since been resolved, with a further increase of 12% quarteron-quarter occurring in the fourth quarter.
With production stabilised, the grade issues that emerged in the second ha ........
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Flow Sheet:
Summary:
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Reserves at June 30, 2023:
Resource bottom cut-off: 1.0mm.
Reserve bottom cut-off: 1.0mm.
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade | Contained carats |
Probable
|
22.2 Mt
|
Diamond
|
58.6 cpht
|
13.01 M carats
|
Indicated
|
23.4 Mt
|
Diamond
|
69.5 cpht
|
16.25 M carats
|
Inferred
|
40 Mt
|
Diamond
|
47.7 cpht
|
19.1 M carats
|
Total Resource
|
63.4 Mt
|
Diamond
|
55.7 cpht
|
35.35 M carats
|
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