An aerial shot of the Fort a La Corne mines from Star Diamond. ((Submitted photo/Star Diamond Corporation)

By Derek Craddock

LOOKING FOR DIAMONDS

Diamond company optimistic about future of Sask. project

Mar 19, 2024 | 4:00 PM

A diamond project near Prince Albert is still on the horizon as the company shares its thoughts on the province’s endeavour into the Middle East.

Star Diamond Corporation is the proponent behind the Star–Orion South Diamond Project, about 60 km east of Prince Albert.

The project was originally a joint venture with Rio Tinto, but in November 2023, the two sides entered into an agreement with Star Diamond owning 100 per cent interest in the Fort a la Corne Kimberlites.

In an interview with paNOW, President Ewan Mason said the plan is to build the mine, but it won’t happen overnight.

“It’s just a question of who does it and how it gets financed and of course, we’ve gone on record as saying we’re not interested in partnering with another mining company,” he said. “Once we get it all back later on this month, we’re going to be looking for governments and financial investors and Indigenous communities to build this mine.”

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Mason added the company has a resource update coming in June and has also started the pre-feasibility study which will take about a year to finish. That will pave the way for a feasibility study to be completed within two years. From there, the company will look to finance and build the mine.

The president’s comments come after the provincial government promoted the Star Diamond Corporation to investors in the United Arab Emirates.

In January 2022, the Government of Saskatchewan opened a trade office in the United Arab Emirates to promote trade in different international centres including London, Mexico City, and Ho Chi Minh City, Vietnam.

When asked about the support the company is getting from the Saskatchewan government, Mason said he’s blown away.

“We were trying to figure out a way to make some in roads into the Middle East because we’re looking for big investors and these guys (government) popped out of nowhere and put this all together and away they went.”

Since this promotion was sent, Mason said they’ve received several requests on LinkedIn from people in the Emirates.

Overall, he is encouraged by the support as he believes the mine will be a great, economic success story for Saskatchewan.

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derek.craddock@pattisonmedia.com