DFI, Samicor to start mining in June

VANCOUVER – Diamond Fields International (DFI) has announced that all conditions have been met in terms of the joint venture agreement with Samicor Mining Services (Samicor) to carry out diamond mining operations on Diamond Fields’ marine mining license ML111 located near Luderitz, Namibia.

Diamond mining operations will utilise Samicor’s chartered vessel mv Kovambo, which is equipped with the 3rd Generation Seabed Crawler and fully integrated diamond processing plant. Samicor is owned by LL Mining Corporation, the mining arm of the Leviev group of companies and one of the world’s major diamond companies.Samicor reports that the refurbishment and maintenance work program on the mv Kovambo in Cape Town harbour is progressing on schedule and commencement of mining operations by the beginning of June 2004 is anticipated.The mv Kovambo is a 104 metre, 3,300 ton vessel equipped with an integrated mining and processing system developed at a cost of approximately US$30 million.The Seabed Crawler is a 160 ton remotely controlled tracked mining vehicle with very high production capacity.”The mining system installed on mv Kovambo has proved itself capable of very high consistent production levels in the geological conditions found in the Marshal Fork marine deposits,” according to Diamond Fields.”We believe the joint venture with Samicor will prove to be a powerful alliance between Diamond Fields International and one of the world’s larger diamond conglomerates.This joint venture will optimise our high grade marine diamond concession by applying outstanding technology specifically designed to mine in the conditions found within our concession.We look forward to a significant increase in the level of diamond production from ML111, resulting in enhanced cash flow for the Company.”says Gregg Sedun, president and CEO of Diamond Fields International.Samicor is owned by LL Mining Corporation, the mining arm of the Leviev group of companies and one of the world’s major diamond companies.Samicor reports that the refurbishment and maintenance work program on the mv Kovambo in Cape Town harbour is progressing on schedule and commencement of mining operations by the beginning of June 2004 is anticipated.The mv Kovambo is a 104 metre, 3,300 ton vessel equipped with an integrated mining and processing system developed at a cost of approximately US$30 million.The Seabed Crawler is a 160 ton remotely controlled tracked mining vehicle with very high production capacity.”The mining system installed on mv Kovambo has proved itself capable of very high consistent production levels in the geological conditions found in the Marshal Fork marine deposits,” according to Diamond Fields.”We believe the joint venture with Samicor will prove to be a powerful alliance between Diamond Fields International and one of the world’s larger diamond conglomerates.This joint venture will optimise our high grade marine diamond concession by applying outstanding technology specifically designed to mine in the conditions found within our concession.We look forward to a significant increase in the level of diamond production from ML111, resulting in enhanced cash flow for the Company.”says Gregg Sedun, president and CEO of Diamond Fields International.