Business
Diamond Fields Announces Update on Projects
VANCOUVER, BC / ACCESSWIRE / July 18, 2016 / Diamond Fields International Ltd. (TSXV: DFI) (...
About this update from Dfr Gold Inc
[{"type":"text","content":"Diamond Fields Announces Update on ProjectsVANCOUVER, BC / ACCESSWIRE / July 18, 2016 / Diamond Fields International Ltd. (TSXV: DFI) (\"DFI\" or the \"Company\"), is pleased to provide this update to its shareholders and the general public. \nAtlantis II Red Sea Project:\nThe Company previously announced it was in a dispute with Manafa International Commerce Company regarding the Atlantis II Red Sea project (see DFI press release dated January 30, 2014). Since that time, the Company's focus and efforts have shifted from seeking arbitration with Manafa to discussions with government. The Company has received preliminary indications that such discussions may be possible, and is pursuing that potential opportunity. The process is at an early stage, and there is no certainty as to whether they will occur or if so, what the result will be. \nThe Company continues to assert its rights to the project. \nIn addition to its initiative for governmental discussions, the Company is continuing its relationship with GEOMAR Helmholtz Centre for Ocean Research of Kiel, Germany (\"GEOMAR\"). GEOMAR is one of the world's premiere institutes for marine sciences. The Company's work with GEOMAR on the Atlantis II Red Sea deposit dates back several years (see for example the Company's press release dated February 14, 2011). \nThe Company is also considering retaining TECNIP to assist the Company on the project and is in discussions with TECNIP. TECNIP is a world leader in marine oil and gas project support. DFI believes TECNIP's vast experience in deep-sea oil and gas projects compliments DFI's experience as one of only a handful of mining companies to successfully conduct offshore marine mining \nSouth Africa - Phosphates:\nThe Company's South African operator and subsidiary, Diamond Fields (South Africa) (PTY) Ltd. (\"DFSA\") is in negotiations with the Department of Mineral Resources, South Africa (\"DMR\") to re-delineate prospecting block sizes in the Outeniqua East and West concessions respectively. Further progress on the project is subject to environmental studies being conducted by the government.\nMadagascar - Valazoro:\nThe Company is maintaining the Nickel deposit while commodity prices are suppressed. It will regularly review the project to consider further development as conditions warrant.\nNamibia - Luderitz Offshore Diamonds:\nDFI c...