AIM-listed BlueRock Diamonds, which owns the Kareevlei mine, in South Africa, has raised £2.1-million through the placing of six-million shares to implement a new mining plan at the mine.
The upgraded mining plan will ensure a consistent supply of quality ore to the processing plant, according to Mining Weekly.
"The board is delighted to have concluded the placing, which will provide working capital for BlueRock's diamond business as it moves into a transformative growth phase, aiming to double carat production to 36 000 ct to 43 000 ct in 2022," the company said in its statement.
"With the one-million-tonne-a-year processing plant upgrade completed and seasonal heavy rains beginning to subside, the company looks forward to maximising production throughput and delivering the optimised mining plan," BlueRock chairperson Mike Houston was quoted as saying.
It said the board decided to expend its resources on providing a consistent supply of quality ore in terms of both the short-term objectives and the life-of-mine plan.
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
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