The company building Quebec’s first diamond mine has overcome a major construction hurdle after opening the Renard Mine Road, the only permanent, direct route to the Renard project.
Stornoway Diamond Corporation (TSX:SWY) announced in a statement on Tuesday that the first vehicle had arrived at the site via the new route. The road is not yet open to the public as 50% of construction is still incomplete.
“With today’s news, it is now possible to drive directly to the Renard Project by permanent road. The connection of each construction segment has been achieved two months earlier than expected, and well ahead of the 4th Quarter, 2013 schedule established when construction of Stornoway’s portion of the road began in April. We are also forecasting final completion of the Renard Mine Road within budget. These achievements have been made possible by the strong performance of our construction contractors, all of whom are Cree or locally operated businesses, and the professionalism of Stornoway’s construction management team based in Longueuil, Québec,” said Matt Manson, Stornoway CEO.
In July, the company received final environmental approval from the Canadian Environmental Assessment Agency.
Construction on the road began in February 2012. Under an agreement with the Quebec government, the province built the first 143km of the route and Stornoway was responsible for 50 km of a single-lane mining road.
The Renard project holds probable reserves of 17.9 million carats and an additional 17.5 million carats of inferred resources.