JOHANNESBURG (miningweekly.com) – Aim-listed BlueRock Diamonds’ Kareevlei mine, in South Africa’s Northern Cape, surpassed its monthly target production of 25 000 t in November.
Production increased by 56% month-on-month to 25 146 t.
BlueRock also achieved its highest monthly sales of $387 059 at an average of $404.45/ct in November.
“The average value per carat has consistently increased throughout the year as the company continues to recover an increasing number of stones larger than 3 ct which command higher prices per carat,” CEO Adam Waugh said on Tuesday.
The average value per carat in 2017 was $362 compared with the last revenue estimate of $232.
“The Kareevlei diamond mine, in Kimberly, remains one of the top ten highest value per carat diamond mines in the world,” said Waugh.
As part of BlueRock’s strategy to maximise the value of Kareevlei, the company intends to begin mining at K1 alongside K2 in the new year.
“Not only should this lead to an increase in overall grade, it will also give the company greater flexibility in its production and likely lead to more consistent results.”
Meanwhile, BlueRock recently blasted about 5 000 t of kimberlite at K5. The limited historic drilling results show evidence that the coarseness of the diamonds in K5 should be higher than in K2 which would suggest an increase in value per carat.
"The review of the year shows the great progress that has been made since we recommenced production in March following the upgrade to our plant. We continue to make modifications to the plant to operate more efficiently and at higher volumes,” said Waugh.