Record third quarter for diamond miner BlueRock
Aim-listed diamond junior BlueRock Diamonds has reported strong operational third-quarter results, setting records for three of its main performance indicators: production, carats produced and grade.
Despite still using its old plant, the operator of the Kareevlei diamond mine near Kimberley, in the Northern Cape, sorted a record 123 727 t in the third quarter, up 34% on the prior-year period.
In terms of carats produced, the miner managed to increase its output by 40%, up from the 3 973 ct produced in the third quarter of 2019, to 5 577 ct.
As for the grade of diamonds recovered, the miner also managed to increase this from the 4.3 carats per hundred tonnes (cpht) in the third quarter of 2019, to 4.51 cpht.
BlueRock executive chairperson Mike Houston describes the increase in grade as “particularly pleasing”. “ . . . [I]t follows a period of low grade whilst we concentrated on creating the main pit; we are confident that we will be able to meet or exceed our long term guidance of between 4 cpht and 4.6 cpht.”
BlueRock sold 3 803 ct at an average price of $330/ct, which is a 28% price decrease from the third quarter of 2019.
Houston explains, however, that the average price per carat is about 10% down on the comparative period in 2019, if higher value stones are excluded. “The price per carat in the third quarter of 2019 reflected the sale of four high value stones, which sold for a total of $450 000 and in the third quarter of 2020 we sold only one higher value stone, which was valued at $104 000.”
Further, Houston says that the expansion at Kareeevlei is well under way and that the new plant will be commissioned by the end of the year as planned.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
