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Stornoway Names Patrick Godin as CEO
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Stornoway Diamond Corporation has appointed a new CEO after reporting its third successive quarterly loss. Patrick Godin, Stornoway’s chief operating officer, willsucceed Matt Manson on January 1, the company said Wednesday. Stornoway recorded...
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Mining
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Nov 15, 2018
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Rapaport News
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Stornoway Notes Poor Small-Stone Market
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Stornoway Diamond Corporation’s average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging...
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Mining
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Oct 14, 2018
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Rapaport News
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Stornoway Completes Renard Underground Mine
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The Renard underground mine in Canada is running at full capacity,after a slower-than-expected transition from open-pit operations in the firsthalf of the year, Stornoway Diamond Corporation said Tuesday.The miner is producing 6,039 tonnes of ore per day from...
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Mining
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Sep 05, 2018
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Rapaport News
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Stornoway Reports Loss Amid Renard Delays
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Stornoway Diamond Corporation went into the red in thesecond quarter as delays at its Renard mine resulted in lower-quality productionthan it had anticipated. The miner recorded a net loss of $27.4 million (CAD 35.9million) for the three...
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Mining
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Aug 15, 2018
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Rapaport News
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Renard Output and Sales Fall in 2Q
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Stornoway Diamond Corporation saw production and sales dropin the second quarter amid a slowdown while the company transitions from open-pitto underground mining. The miner produced 223,351 carats from its Renard mine...
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Mining
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Jul 08, 2018
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Rapaport News
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Stornoway Lowers Production Outlook
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Stornoway Diamond Corporation has reduced its production-and-salesexpectations for this year, as its shift to underground mining has resulted in lowergrades.The company now plans to produce between 1.35 million and1.4 million carats from its Renard...
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Mining
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May 21, 2018
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Rapaport News
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37ct. Diamond Boosts Stornoway Prices
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Stornoway Diamond Corporation saw rough prices rise in thefirst quarter, driven by a resurgent market and the sale of its most expensive stoneto date. The miner achieved an average price of $112 per carat forthe three...
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Mining
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Apr 12, 2018
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Rapaport News
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Stornoway Hit by Challenging Diamond Market
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Stornoway Diamond Corporation ended 2017 with lower than expected production and sales, as tough market conditions and operating glitches at the Renard mine marred its first year of operations. The company recovered 1.64...
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Mining
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Jan 15, 2018
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Rapaport News
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Stornoway Sees Robust Output at Renard Mine
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Stornoway DiamondCorporation reported higher-than-planned recovery of diamonds from its Renardmine in Canada in the third quarter and higher average pricing compared to thefirst half of the year.Duringthe quarter that ended September 30, better-than-expected ore grades...
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Mining
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Oct 16, 2017
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Rapaport News
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Breakage Continues to Affect Renard Output
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Stornoway Diamond Corporation reported an increase in prices of rough diamonds from its flagship Renard mine in Canada in the second quarter, but raised concerns over diamond breakage.The company sold 350,159 carats in two tender sales...
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Mining
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Jul 16, 2017
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Rapaport News
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Dominion, Stornoway in Merger Talks: Report
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Dominion Diamond Corporation and Stornoway DiamondCorporation have held discussions over a merger, Reuters reported this week, asDominion continued to denigrate a separate takeover offer from the Washington Companies.The merger talks cover the possibility...
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Mining
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Mar 22, 2017
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Rapaport News
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Stornoway Upbeat on Revenue After 2016 Profit
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Stornoway Diamond Corporation recorded a profit in 2016 dueto a tax refund, and received a performance boost from the launch of the Renardmine in October.The company reported a net income of $15 million (CAD 19.6million) for the year,...
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Mining
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Feb 26, 2017
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Rapaport News
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Renard Production Beats Estimate
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Output at Stornoway Diamond Corporation's new Renard mine in Canada more than doubled from its planned level for 2016, as production at the project started earlier than expected.The company recovered 448,887 carats versus a forecast...
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Mining
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Feb 09, 2017
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Rapaport News
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Stornoway Seeks New Finance Chief
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Stornoway Diamond Corporation said Robert Chausse will leave thecompany after less than a year as chief financial officer (CFO) as he plans topursue other career opportunities.The miner intends to appoint a new CFO by Chausse’sdeparture date March...
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Mining
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Jan 25, 2017
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Rapaport News
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Renard Mine Reaches Commercial Production
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Stornoway Diamond Corporation said it achieved commercialproduction at the Renard mine in Canada a month ahead of schedule and within budget.The operation reached an average processing rate of 4,120tonnes per day over 30 days, out of a capacity of 6,000 tonnes...
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Mining
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Dec 25, 2016
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Rapaport News
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Indian Liquidity Stress Impacts First Renard Sale
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The first sale of roughdiamonds from the Renard mine in Canada garnered $7.6 million, even as smallerstones were withdrawn because of a lack of liquidityin India, owner Stornoway Diamond Corporation reported.The company sold 38,913 carats for...
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Mining
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Nov 24, 2016
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Rapaport News
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Stornoway Launches Renard Mine in Quebec
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Stornoway Diamond Corporation said the Renard Diamond Minein Canada officially opened at a ceremony held Wednesday after two decades ofdevelopment.The launch “marks the culmination of approximately 20 yearsof work to bring the Renard project from...
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Mining
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Oct 20, 2016
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Rapaport News
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Stornoway to Sell Renard Rough Ahead of Schedule
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Stornoway Diamond Corporation will hold the first sale ofdiamonds from its Renard mine two months earlier than expected.The sale will start November 14 in Antwerp, the companysaid. First ore from the mine...
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Mining
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Oct 09, 2016
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Rapaport News
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Stornoway Swings to Quarterly Profit
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Stornoway Diamond Corporation reported a profit of $4.4million (CAD 5.8 million) in the second quarter ending June 30, compared with aloss of $7.5 million in the equivalent period last year.Stornoway’s Renard Diamond Project in Quebec is on schedule...
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Mining
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Aug 11, 2016
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Rapaport News
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