DIAMONDS: All season Renard mine road opens

QUEBEC – The first vehicular traffic has reached the Renard diamond mine project via the new all season road. Owner Stornoway Diamond Corp. of Montreal says all four segments and the Route 167 extension have now been connected.

Stornoway said the connection of the four segments has been accomplished two months ahead of schedule and within budget. It is open to construction traffic, but not the public.

Matt Manson, president and CEO, said, "The Renard project is now permitted, connected by road, and ready to build. … Project financing discussions with lenders and prospective investors are ongoing and progressing well, with a view to first construction mobilization prior to the end of 2013."

The 240 km long road is a joint effort by the company and the province, running from the town of Temiscamie to the mine site. It was built by the company and the province. Quebec built the first 143 km as a 70-km/h two-lane gravel highway. Stornoway is responsible for the remaining 97 km as a 50-km/h single-lane mining road.

Renard will be the first diamond mine in Quebec. It will produce up to 2.0 million ct of diamonds annually and garner revenues of up to $450 million per year. Initial mine life is put at 11 years.

Learn more at StornowayDiamonds.com.