logo-loader
viewDiamondcorp Plc

DiamondCorp considering options after mine shutdown

The authority has requested "external ventilation audit team to inspect the mine for smoke and other gases".

LesothoBrown_hires.jpg
The Lace mine is 74% owned by the company

DiamondCorp Plc (LON:DCP) has been ordered to shut down underground operations at its Lace mine after a fire in a dump truck.

No one was injured in the incident and management said it was "struggling to find logic" in the instruction that came  with the Section 54 notice  from the South African Department of Mineral Resources (DMR) and is considering its options including legal action.

The authority has also requested "external ventilation audit team to inspect the mine for smoke and other gases".

The firm reckons mining at the site in South Africa will be suspended for a least a week.

Shares sank 40% to 1.725p on the day.

Quick facts: Diamondcorp Plc

Price: - -

AIM:DCP
Market: AIM
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: ADM Energy CEO to use strong local knowledge to land deals

ADM Energy (LON:ADME) CEO Osamede Okhomina grew up in the UK but knows Nigeria inside out. "It's about knowing how to deal with each tribal culture and getting the best from each negotiation.." says Cambridge-educated Okhomina. ADME is a natural resources investment company but Okhomina would...

1 hour, 35 minutes ago

2 min read