Delta Mining and Exploration – There will be continued demand!
The rarity of diamonds has been on the wane for more than a century. I little history will put the continued demand in perspective and demonstrate that there is a true need for more diamond mines.
The massive kimberlite deposits were discovered in South Africa in the late 1800s. Independent prospectors staked claims and began extricating diamonds from the earth in quantities never imagined.
De Beers solidified its dominance of the gem for generations to come when they bought all the small diamond miners and unified control of the diamond fields naming them the De Beers Consolidated Mines.
This gave DeBeers the entire worldwide share of diamond production allowing them to regulate supply and realize enormous profits.
The company then mined its own diamonds discouraged the discovery or exploitation of new deposits. As other mines went into production the plan became to convince these sources to operate as “marketing partners,” through the “Central Selling Organisation.” De Beers at that point changed from a monopoly to a cartel retaining the power to make or break the market.
In 1979 northwestern Australia provided the largest discovery yet. From a small kimberlite pipe, prospectors uncovered a massive diamond deposit set in lamproite. This became known as the Argyle mine. Production came online at Argyle in 1983 and surpassed 30 million carats per year. Record production, in 1994, topped 40 million carats. Many feared this production would overload the cartel’s ability to manage the flow of supply into the distribution pipeline. The gem diamond business, however, Argyle’s run-of-mine average quality was poor, with only five percent of production being of gem quality.
The Argyle mine is now showing its age. Argyle recently transitioned from open pit to underground mining, with annual production falling to about half of its historical peak. Argyle has projected mine life out until 2018. But a decade more of half-peak production, together with depleted stockpiles of near-gem rough, presents a potentially substantial shortfall in supply.
Conversely, new sources of production will be needed to take up the slack.
Delta Mining and Exploration received a report on the samples processed from their Montana target. The micro-probe analysis to determine kimberlite provenance and/or specific mineral chemistry was positive. Link here for report.
Stay tuned: There is so much to tell about this exciting prospect that Stock Guru will be checking in several times a day on this company so you can learn about their advantages in their quest for a U.S. diamond mine!
Source: Delta Mining and Exploration and History of Diamonds
Contact: Alex Livak
Investor Relations
242 Kings Rd.
Lewisburg, Kentuc 42256
Tel: 347-813-4664
Em: info@deltamine.com
Delta Mining
242 Kings Rd.
Lewisburg, KY 42256
USA
Website: http://www.deltamine.com
Phone: 347-813-4664
About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in Montana. Delta controls some 8000 acres throughout Montana located within the Wyoming Craton where much of North America’s diamonds have been found and has completed two phases of exploration work.
Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “plan,” “confident that,” “believe,” “scheduled,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company’s products and technologies, competitive factors, timing, and other risks described in the Company’s SEC reports and filings.
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