Image credit: BlueRock
BlueRock Diamonds has lifted its third-quarter diamond output at the Kareevlei diamond mine, in South Africa by 40% to 5,577 carats compared to 3,973 carats, a year earlier.
The record output was recorded despite the COVID-19 pandemic, which at some point forced production to be suspended at the mine.
Company executive chairperson Mike Houston said volumes had been strong even though they are still using an old plant.
“The increase in grade to 4.51 cpht is particularly pleasing as it 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 4.0 cpht and 4.6 cpht,” he said.
However, diamonds sold in the third quarter eased 8% to 3,803 carats compared to the previous year’s 4,139 carats.
The diamonds were sold at an average price of $330 per carat, which is a 28% price decrease from the third quarter of 2019.
Houston said BlueRock estimate that the average price per carat was approximately 10% down on the comparative period in 2019 excluding higher value stones.
The price per carat in the third quarter in 2019 reflected the sale of four high-value stones that were sold for $450,000, while only one higher value stone sold in the third quarter this year raked in $104,000.
Meanwhile, Houston said the expansion project at Kareeevlei was underway and the new plant was expected to be commissioned by the end of the year as planned.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
