Mining Intelligence and News
South Africa

Finsch Mine

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Australia

Finsch Mine

Location: 36 km E from Postmasburg, South Africa

Address:

Central Avenue
PO Box 7
Lime Acres
South Africa
8410

Contacts:

Additional Resources for Suppliers & Investors

Categories

Overview

Mine TypeUnderground
StatusActive
Commodities
  • Diamond
Mining Method
  • Sub-level caving
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Mine Life... Lock
SnapshotFinsch 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.

Owners

SourceSource
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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SourceSource

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.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnits202320222021202020192018201720162015
Diamond carats  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe1,755,7682,073,4772,149,8962,214,0642,065,875
All production numbers are expressed as mineral.

Operational metrics

Metrics202320222021202020192018201720162015
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe3,297,047 t3,879,368 t4,863,258 t5,843,716 t5,672,856 t

Production Costs

Commodity production costs have not been reported.

Operating Costs

Currency20232022202120202019201820172016
Total operating costs ($/t milled) ZAR 576  493  536  477  388  329  253  183  

Financials

Units2023202220212020201920182017
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 24.1   54   85.6  
Sustaining costs M USD  ....  Subscribe  ....  Subscribe 9.1   7.7   9.1  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 170.2   231.9   216.7  
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe -37.8   68   101.7  

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 13, 2023

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2023
...... 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

Aerial view:

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