A major infrastructural component of a pioneering diamond mine in eastern Canada is taking longer to complete that had originally been expected, and this may push back the start date of diamond production, Mining.com reported.
The Renard Project, the first diamond mine to be developed in the province of Quebec, may not produce assets by the initial 2015 deadline, as the construction of a highway extension between Chibougamau and the Otish Mountains may take longer than first thought. Despite impressive progress on the road thus far, diamond company Stornoway's ability to complete construction on time has been put in doubt.
The Renard Project, owned in its totality by TSX-traded Stornoway, is located in north-central Quebec, about 250 kilometers north of Mistissini, a Cree First Nations community. It is thought to contain approximately 18 million carats of diamonds, and the diamonds are expected to cost about $180 per carat, according to Mining.com.