Dominion Diamond Corporation Reports Fiscal 2016 Second Quarter Sales and Production Results

20 August 2015

YELLOWKNIFE, NT (August 20, 2015) - Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the "Company" or "Dominion") reports Ekati Diamond Mine and Diavik Diamond Mine second fiscal quarter 2016 (May through July) sales, and Ekati Diamond Mine production results. Unless otherwise specified, all financial information is presented in U.S. dollars.

Highlights

  •         Sales:
    •    Second quarter diamond sales1 were robust at $209.7 million ($277.3 million in Q2 fiscal 2015), despite a cautious market and a time of seasonal weakness in demand.
  •         Production:
    •    In July 2015, the Company initiated changes to the diamond liberation process to optimize diamond recovery at the Ekati Diamond Mine with promising test results.
    •    During Q2 fiscal 2016, the Ekati Diamond Mine recovered 0.9 million carats from 1.0 million tonnes of ore processed (0.8 million carats from 1.1 million tonnes in Q2 fiscal 2015).
    •    Ore mined from the Koala and Koala North pipes has caught up to plan as increased production from both pipes in Q2 fiscal 2016 have made up for the shortfall caused by the conveyor belt failure in Q4 fiscal 2015.  
    •    The operational challenges experienced at the Ekati Diamond Mine process plant in Q1 fiscal 2016 have been successfully resolved.
  •         Development:
    •    Misery Main pipe is still on track for first production in Q1 fiscal 2017.
    •    First production from the Pigeon pipe is now expected in November 2016.  

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