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South Africa
Finsch Mine

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 Location:
36 km E from Postmasburg, South Africa

  Address:
Central Avenue
PO Box 7
Lime Acres
South Africa
8410
Phone  ...  Subscription required
Fax(053)-385-2304
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Diamond
Mining Method
  • Sub-level caving
Production Start...
Mine Life2030
At Finsch, we will extend the mine below the current area, creating a Lower Block 5 3-level sub-level cave, extending 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% with incremental NPV of more than US$90 million. Capital expenditure for this project will commence during FY 2023 and we expect production to commence in FY 2025.


Owners

Source: p. 171,189
CompanyInterestOwnership
Petra Diamonds Ltd. 74 % Indirect
Ownership Tree
Petra Diamonds Ltd.: 74%;
Itumeleng Petra Diamonds Employee Trust: 12%;
Kago Diamonds (Pty) Ltd: 14%.

Contractors

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Deposit Type

  • Kimberlite


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.


Mining Methods

  • Sub-level caving


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.

In extension of the mine plan to 2030, the Board has approved the Lower Block 5 3-level project which is expected to commence during FY 2023 with production contributions from FY 2025 onwards.

Petra has put in place a ‘grade and draw’ strategy to cut off the waste and prevent further progression. The drilling and blasting of production rings ensures that the ingress of waste and fines can be arrested timeously, allowing the next ring to be accessed to produce cleaner ore.
This approach aims to ensure the planned extraction can continue for FY 2023 at an optimal grade recovery.

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.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:

CommodityUnits2022202120202019201820172016
Diamond carats  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required2,073,4772,149,8962,214,064
All production numbers are expressed as mineral.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Tonnes processed  ......  Subscription required  ......  Subscription required  ......  Subscription required3,297,047 t3,879,368 t4,863,258 t
Subscription required - Subscription is required.

Reserves at June 30, 2022:
Resource bottom cut-off: 1.0mm.
Reserve bottom cut-off: 1.0mm.

CategoryTonnage CommodityGradeContained carats
Probable 24.3 Mt Diamond 55.1 cpht 13.42 M carats
Indicated 25.1 Mt Diamond 69 cpht 17.29 M carats
Inferred 40.5 Mt Diamond 47.3 cpht 19.15 M carats
Total Resource 65.5 Mt Diamond 55.6 cpht 36.44 M carats

Operating Costs:

Units20222021202020192018201720162015
Total operating costs ($/t milled) ZAR 493536477388329253183164

Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 54   85.6  
Sustaining costs M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 7.7   9.1  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 231.9   216.7  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 68   101.7  
Subscription required - Subscription is required


Pipelines
TypeMaterialDiameterLengthDescription


Heavy Mobile Equipment as of January 27, 2023:
HME TypeModelSizeQuantity
Drill ....................... Subscription required ....................... Subscription required
Drill (long hole) ....................... Subscription required ....................... Subscription required
Drill jumbo (single boom) ....................... Subscription required
Load-Haul-Dump (LHD) ....................... Subscription required 10 t
Load-Haul-Dump (LHD) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required 30 t
Truck (underground) ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2022
Subscription required Subscription required Subscription required 2021
Subscription required Subscription required Subscription required 2020
Subscription required Subscription required Subscription required 2019
Subscription required Subscription required Subscription required 2018
Subscription required Subscription required Subscription required 2017
Subscription required Subscription required Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Other 2023
Annual Report 2022
Sustainability Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Sustainability Report 2018
Annual Report 2017
Annual Report 2016
Project Description 2012
Fact Sheet 2008
Project Description 2007
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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