Juina produces diamonds

Juina Mining (GEMM-O) has started producing alluvial diamonds at its namesake operation in southwestern Brazil, with buyers already lined up for initial shipments.

The company holds mining rights to 2,471 ha in the Juina region of Mato Grosso state.

Independent consultants estimate that 5% of the resource could yield diamonds as large as 20 carats, with 25% classified as gem quality and 60% as near-gem quality. At full capacity, the operation is expected to process 100 tonnes of gravel per hour. The company will use cash flow from the mine to finance exploration drilling.