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BlueRock’s August diamond sale achieves average price of $330/ carat

28 august 2017
BlueRock Diamonds, which owns and operates the Kareevlei Diamond Mine in South Africa, said it sold 400.06 carats at a tender this month, achieving an average price of $330 per carat.
The company said a parcel of the diamonds produced and included in the August's sales tender had resulted in a grade of 2.07 cpht showing an increase to Kareevlei's previous average diamond grade of 1.7 cpht achieved during the year.
The company sold 330 carats in July, achieving an average of $395 per carat.
"Having recently raised capital to further improve our production levels and provide working capital, we are on track to reaching our target production of 25,000 tonnes per month,” BlueRock Diamonds chief executive Adam Waugh said.
“Prices per carat continue to exceed expectations and recovery grades are beginning to improve. We are now well on our way to achieving profitable mining with the expected further improvement to grades as we begin processing the sub 20 metre level kimberlite in September."
Meanwhile, the company said production continued to improve with July's total production of 20,200 tonnes representing an increase of 40 percent on the production achieved in June 2017.
BlueRock's target was to achieve monthly production of 25,000 tonnes during the fourth quarter of 2017.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished