Image credit: Kazera Global
It said assuming a sale price of $200 per carat, the South African diamond division will be operating on a profitable basis once sales are achieved.
"The latest diamond results mean that our South African operation is now covering its...overheads," said Kazera executive director managing the South African operations Dennis Edmonds.
"The additional revenues from the gravel stockpile and the two new areas of operation indicate that this project should be a major cash generator for the company [soon]."
The company obtained permits for the joint venture operation and intends to start operations before the end of March 2021.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
